EURAUD is a currency pair made up of the Euro and the Australian Dollar. It is one of the most popular currency pairs in Forex trading, as it offers traders exposure to two economies that are considered relatively stable. The EURAUD has a strong correlation with commodities prices, so traders who are looking to trade commodities often use this currency pair as well.
The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 day moving average’s [Respectively at 1.59300 and 1.59610]
Type: Swing trade
⟰Recommendation: Buy/Buy limit @ 1.60200 Target: 300 pips