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Long-term growth outlook for EUR/AUD

EUR/AUD

The starting point of the growing EUR/AUD trend is the distant July 2012, from the low of which the Fibonacci grid on the chart of the monthly scale accurately and correctly "laid down".

Long-term growth outlook for EUR/AUD

On the weekly chart, the price overcame the strong resistance formed by the Fibonacci level of 110.0% and the MACD indicator line. The signal line of the Marlin oscillator has moved into a trend growth zone. The first target of growth is the Fibonacci reaction level of 123.6% at the price of 1.6830. Consolidation above the level opens the second target of 1.7450 - the Fibonacci level of 138.2%, and this second goal coincides with the high of August 2007.

The completion of the trend is possible near the Fibonacci level of 161.8%, in the price area of 1.8440, from it there were reversals in April 2001, in October 2002, and later attempts to overcome it until mid-2003 were unsuccessful.

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Long-term growth outlook for EUR/AUD

On the daily chart, the price is attacking the MACD line, the Marlin oscillator is also breaking through the boundary with the growth trend zone.

Long-term growth outlook for EUR/AUD

On the H4 chart, the price consolidated above the Fibonacci level of 100.0%, the output of yesterday's high will be a signal to open a long position.

Long-term growth outlook for EUR/AUD

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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