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28.01.202006:04 Forex Analysis & Reviews: Medium-term cross-EUR/AUD growth outlook

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/AUD

On the weekly chart, the price has overcome strong resistance at the point where the MACD line coincides with the Fibonacci level of 110.0%. The base branch for the grid is defined by the movement from August 2012 to January 2014.

Exchange Rates 28.01.2020 analysis

The signal line of the Marlin oscillator broke through the boundary with the zone of predominance of the bulls. Growth targets: 1.6830 - the Fibonacci reaction level is 123.6%, 1.7450 - the Fibonacci level is 138.2%, which coincides with the peak of August 2007:

Exchange Rates 28.01.2020 analysis

On the daily chart, the price broke above the line of balance and MACD. Marlin in a strong growing position:

Exchange Rates 28.01.2020 analysis

There is also a clear increase in all indicators on the H4 chart:

Exchange Rates 28.01.2020 analysis

Laurie Bailey
Analytical expert of InstaForex
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