EURAUD long view

On the weekly time frame, we see the pair sitting on the bottom line of the trend. There we can now expect a separate consolidation before the next major shift on the chart. Following the moving averages, the pair is below all, but we are making a turn towards them again, and we can expect to approach MA20 and EMA20 first in the next short term. If we see this, it is realistic to expect the pair to climb to 1.60000 before the next pullback towards the bearish trend's continuation. By setting the Fibonacci level on the chart, we see this smaller bullish trend limited to 61.8% of the level.