After a long rally from an ending diagonal of wave 3 the pair is forming a Head and shoulder pattern. The breakdown of the neckline will bring the prices down to the previous supported as shown in the analysis.
price created an M formation and over extended down to the monthly support expecting deceleration and bullish movement to retest the 0.5 fibb or the 0.618 fibb.price movement expected not to be as choppy due to the clean move down
On a 1D time frame, it's making a flag pattern and I think it should have more support so I think it will gonna get down to get support and then gonna brake upside!
Let me know what's your thought on this view?
EUR/AUD has made multiple tops and once again the volumes is decreasing, can be a good short sell opportunity near 1.65100 once a lower low and lower high is made. with SL above the multiple resistance zone.
Views negative if hourly close is above 1.65550 before doing the breakdown.
Hello Trades, As we have seen a good bullish move in the last week and currently the price is sitting at a key level of resistance.Now there are many sellers entering at this postion where in this would good opportunity to sell.Ensure that you use proper risk management with given StopLoss .Please feel free to Message me for your account
growth and profitable...
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 !
Hey Trades. Welcome back .I Actually missed to publish the previous buy with +100 pips Profit scenario . There is a strong bullish push now again we can enter this buy position with Great Risk Reward i;e 1:5 .Please Message me for more profitable trades. Thank you
Trading suggestion:
. There is a possibility of temporary retracement to suggested support lines, Then traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURAUD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
....
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 !
