EURAUD Weekly Forex Forecast 1st December to 7th December by yshashmi37 on

Midterm forecast:

While the price is below the resistance 1.6035, beginning of downtrend is expected.
We make sure when the support at 1.5275 breaks.
If the resistance at 1.6035 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:

While the RSI resistance #1 at 47 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 1.5790 on 11/21/2018, so more losses to support(s) 1.5425 and minimum to Major Support (1.5275) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 31.

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