Symbol - EURAUD
Amid a broader global bullish trend, the EURAUD pair is currently undergoing a corrective phase, approaching the support zone of the established trading range. Market participants are observing efforts by buyers to defend the 1.7750 level.
The pair remains within a broad consolidation range. Price action near the lower boundary has exhibited signs of a false breakout and subsequent liquidity absorption, which could potentially trigger a rebound toward the midpoint of the range or even a move toward the upper resistance levels.
Sustained consolidation above the 1.7750 mark, coupled with the emergence of a local reversal pattern, may serve as a catalyst for renewed upward momentum. While the overarching trend remains bullish, the current move reflects a local correction. Fundamentally, conditions remain uncertain. However, the US Dollar Index continues to correct after a recent sharp decline.
Key Resistance Levels: 1.7855, 1.7987
Key Support Levels: 1.7750, 1.7695
Should bullish momentum prevail and price remain above the critical 1.7750 support - marking the lower boundary of the range, there is potential for a rebound targeting liquidity pools situated above resistance levels.
Amid a broader global bullish trend, the EURAUD pair is currently undergoing a corrective phase, approaching the support zone of the established trading range. Market participants are observing efforts by buyers to defend the 1.7750 level.
The pair remains within a broad consolidation range. Price action near the lower boundary has exhibited signs of a false breakout and subsequent liquidity absorption, which could potentially trigger a rebound toward the midpoint of the range or even a move toward the upper resistance levels.
Sustained consolidation above the 1.7750 mark, coupled with the emergence of a local reversal pattern, may serve as a catalyst for renewed upward momentum. While the overarching trend remains bullish, the current move reflects a local correction. Fundamentally, conditions remain uncertain. However, the US Dollar Index continues to correct after a recent sharp decline.
Key Resistance Levels: 1.7855, 1.7987
Key Support Levels: 1.7750, 1.7695
Should bullish momentum prevail and price remain above the critical 1.7750 support - marking the lower boundary of the range, there is potential for a rebound targeting liquidity pools situated above resistance levels.
Trade active
CMP 1.7700Long position initiated.
Note
CMP 1.7845+145 pips in profit, Holding with cost SL now.
Trade closed manually
Closed at cost 1.7720+20 pips in profit.
Trading isn’t a gamble. When skill meets discipline - profit becomes the natural outcome.
Join me, I'll guide you to PROFITABLE TRADING.
Connect with me directly on WhatsApp: +91-9915885530
Join me, I'll guide you to PROFITABLE TRADING.
Connect with me directly on WhatsApp: +91-9915885530
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.
Trading isn’t a gamble. When skill meets discipline - profit becomes the natural outcome.
Join me, I'll guide you to PROFITABLE TRADING.
Connect with me directly on WhatsApp: +91-9915885530
Join me, I'll guide you to PROFITABLE TRADING.
Connect with me directly on WhatsApp: +91-9915885530
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.