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EUS.IDX/EUR MAY FALL A BIT

Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator, Ellipse.
EUS.IDX/EUR Weekly Chart
  • The MACD on the weekly chart is in the positive zone.
  • The RSI is neutral.
  • The Stochastics is going down.
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EUS.IDX/EUR

Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, rectangle.
EUS.IDX/EUR Weekly Chart
  • The MACD on the weekly chart is in the positive zone.
  • The RSI is headed South.
From the weekly chart, it looks like there is more potential to the upside. But last weekly candle suggests that the correction is not over yet.
EUS.IDX/EUR Daily Chart
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killer195175 avatar

UPDATE-3
The price has closed the week at 3558. But the outlook is very bearish. Indicators are suggesting a move lower next week. I expect this pair to reach our target of 3490 next week.

killer195175 avatar

UPDATE-4
The price is trading at 3541 levels. The MACD has crossed over the signal line on the down side and is currently in the negative zone. The RSI is also headed south. This scenario indicates that a test of 3500 level is certain but we are left with only 3 trading days and these are also filled with holidays in many countries. Only time will tell now what will happen.

killer195175 avatar

UPDATE-5
The price is trading at 3522 levels. The pair is finally able to break the lows of last week and is heading lower. A close below 3513 will open the way to our target of 3490 and then 3450. Since there are only 2 more trading days left so I guess we will be close to our target here too.

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UPDATE-6
The price is trading at 3509 levels. The pair has made an intraday low of 3503. If it is able to sustain below 3500 level next week  then we can see 3450 level also. The indicators favor a down move from here. 3496 is a level where the pair can find support.

killer195175 avatar

UPDATE-7
The pair has made an intraday low at 3491 and closed the week at 3493. Our target is at 3490. I am expecting a close fight in this prediction. As the pair is now sitting at short-term support but indicators are suggesting more downfall.

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