Medium-term cross-EUR/AUD growth outlook

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.

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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:

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

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

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The material has been provided by InstaForex Company - www.instaforex.com