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Interesting Long-Term Opportunity on EUR/AUD
Euro / Australian Dollar
Long
Interesting Long-Term Opportunity on EUR/AUD
By ThinkingAntsOk
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Jul 7, 2021
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Jul 7, 2021
Good morning traders! Today we will analyze EUR/AUD, as it is in a particular situation that can be a good opportunity to take for the long term.
🔸Let's first analyze the long-term chart (Published):
- We see an obvious upward trend that has been in place for almost 10 years.
- Recently, the price bounced back to the lower trend line and was rejected to the upside.
- This is a bullish sign, leading us to think of possible bullish momentum.
🔸To see the situation more in detail, let's go to the Daily Chart:
- Here, we also see that the short-term bearish channel was broken to the upside and the local resistance zone.
- Yesterday was a very volatile day, and we saw a large rejection candle in the support zone, which supports our bullish view.
- The target that we consider possible in the medium term is the Resistance zone at 1.68000.
analysis
aud
Bullish Patterns
EUR
EURAUD
Multiple Time Frame Analysis
setup
Support and Resistance
Trend Analysis
ThinkingAntsOk
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