. Trade EURAUD this Week: Stay Bullish

Trade EURAUD this Week: Stay Bullish

16 May 2023

EURAUD Technical Analysis: Weekly Chart

WEEKLY CHART

In the weekly charts, EURAUD is trading in an up channel. EURAUD is currently trading above all MA except MA (5).

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 1.58000 the resistance level is at 1.66000

EURAUD will trade in an up channel until there is a trend reversal.

EURAUD Technical Analysis: Daily Chart

WEEKLY CHART

In the daily charts, EURAUD was trading in an up channel. EURAUD is currently trading below all MA except MA (50).

RSI is in the buying zone which indicates bullishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1.61000 the resistance level is at 1.65000

EURAUD was traded in an up channel before there is a downside breakout.

How to Trade EURAUD this Week:

EURAUD will follow the uptrend until its trend reversal. So, remain bullish on EURAUD.

TRADE SUGGESTION- BUY AT 1.63000, TAKE PROFIT AT 1.67000 AND STOP LOSS AT 1.60000.