Euraud bullish for 1200 pips
If you're looking at a bullish scenario for the EUR/AUD pair with a target of 120 pips, it's important to consider the current technical and fundamental factors driving the pair. Here's a broad analysis:
1. Technical Analysis:
Support and Resistance Levels: Identify key support and resistance levels. If EUR/AUD has broken through a significant resistance, it may indicate further upside potential.
Moving Averages: Look at short-term and long-term moving averages (e.g., 50-day and 200-day MA). A crossover or strong upward trend could indicate a bullish trend.
Chart Patterns: Are there any bullish formations such as an ascending triangle, cup and handle, or inverse head and shoulders?
Indicators: Relative Strength Index (RSI) or MACD divergence may suggest overbought or continuation signals.
1. Technical Analysis:
Support and Resistance Levels: Identify key support and resistance levels. If EUR/AUD has broken through a significant resistance, it may indicate further upside potential.
Moving Averages: Look at short-term and long-term moving averages (e.g., 50-day and 200-day MA). A crossover or strong upward trend could indicate a bullish trend.
Chart Patterns: Are there any bullish formations such as an ascending triangle, cup and handle, or inverse head and shoulders?
Indicators: Relative Strength Index (RSI) or MACD divergence may suggest overbought or continuation signals.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.