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    BRAND MARKET ANALYSIS AND NEWS EURAUD at resistance and Bollinger Bands Market News

    EURAUD, 240 min

    The last time EURAUD was trading at current levels we looked for signs of reversal as the pair was trading at support. Now support level has been penetrated and its role has been reversed. The same level is now likely to act as a resistance. EURAUD is also trading near the upper 4h Bollinger Bands with Stochastics getting overbought and the down sloping 30 period moving average. The higher time frame momentum is to the downside and the pair has retraced back to a resistance.

    We look for sell signals inside the 1.4865-1.4930 Sell Area with Target 1 at 1.4700-1.4753. Should this area get penetrated the Target 2 area is at 1.4614-1.4660.

     

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    Janne Muta

    Chief Market Analyst

    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.


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