EURAUD Weekly Forex Forecast 21st October to 27th October by yshashmi37 on

Midterm forecast:

While the price is below the resistance 1.6355, beginning of downtrend is expected.
We make sure when the support at 1.5985 breaks.
If the resistance at 1.6355 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:

While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 1.6355 on 10/11/2018, so more losses minimum to Major Support (1.5985) 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 50.

Share This