EURAUD Weekly Forex Forecast 25th November to 1st 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 trough is formed in daily chart at 1.5520 on 11/15/2018, so more gains to resistance(s) 1.5715, 1.5840, 1.5940 and maximum to Major Resistance (1.6035) 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 40.

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