When it comes to the technical analysis of EURAUD, right now it is still in downtrend. But now you might get a pullback to the upside. We've seen price broken the major support because of stronger resistance area(please refer the previous idea I have shared). If you are going in, better find a pullback. I have marked a good entry area on the chart; you may use...
EURAUD CURRENTLY IN ZIGZAG RANGE ..WHAT CAN HAPPEN...???
RED LINE :
IF EURAUD BREAK THE CURRENT RESISTANCE IT CAN MOVE TOWARDS FRESH RESISTANCE AND THEN
GO SHORT @ 1.64550 WITH STOP LOSS @ 1.64800
TAKE PROFIT @ 1.63750
GREEN LINE :
IF IT FAIL TO BREAK THE RESISTANCE THEN IT WILL MOVE TOWARDS SUPPORT ZONE AND THEN
GO LONG @ 1.62350...
The daily is turning down against the 3/19/20 highs at 1.9800. The 4 hour right side is down against the June highs at 1.6589. While below the 1.6400 highs, more importantly the June highs the pair can see a turn back lower continue.
Short term trade
Long @1.6302-1.6282
Target: 1.6380
SL: 1.6260
good luck !
The 4 hour right side is down against the 3/19/20 highs at 1.9789. Ideally while below the late June highs there the pair can see a turn back lower continue. Before fall we can see a short term rally towards 1.6350
LONG EURUAD
@1.6230-10
TP1- 1.6280
tp2- 1.6340
SL: 1.6190
Good luck !
