empty
 
 
23.04.2014 06:16 PM
EUR/AUD intraday technical levels and trading recommendations for April 23, 2014

This image is no longer relevant
This image is no longer relevant

On March 24, by breaking down 1.5175, the Double Top pattern could not only achieve its projection target at 1.4820-1.4800, but it confirmed a bigger Head and Shoulders pattern.

The bears managed to break down 1.4950 corresponding to 50% Fibonacci level last week (the nearest support level). This exposed the price level of 1.4750 (61.8% Fibonacci).

Trading above 1.4740 on a daily basis will probably hinders further bearish progression giving some time for sideway consolidation at least for retesting of 1.4945 (50% Fibonacci) which is a prominent resistance now.

There has been a state of indecision around 61.8% Fibonacci level (1.4750). The bulls were offering support around 1.4725 and finally they are able to push above the upper limit of the 4H congestion zone (price level of 1.4820).

Breakthrough above its upper limit (1.4845) invalidated the bearish scenario for the short-term prospective. Projection target of the bullish breakout should be located near 1.4950 (50% Fibonacci level on the daily chart). This is where a bearish pull-back is expected to take place off.

On the other hand, daily closure below 1.4740 and a slide below 1.4675 will open the way towards 1.4350 as a projection target for the long-term bearish pattern.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback