EURAUD trade ideas
Don't miss the great sell opportunity in EURAUDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.6688). if so, 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 downtrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 60.
Take Profits:
TP1= @ 1.6447
TP2= @ 1.6353
TP3= @ 1.6250
SL= Break above R2
Don't miss the great buy opportunity in EURAUDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.5952). if so, 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 below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 54.
Take Profits:
TP1= @ 1.6024
TP2= @ 1.6073
TP3= @ 1.6230
SL= @ 1.5890
EURAUD It may form ascending channel and touch 4hr ascending channel and pullback or it breaks the trend line and form a bear flag and continue bearish momentum
LONG Nice Uptrend in EURAUD, Good long From Value AreaWait till market comes toward trend-line and confirm with candlestick .
This analysis is just for education purpose.
EUR/AUD Technical analysisThe pair is confined within the ranges of 1.57393-1.60778 for the past 2 months.
It can be construed as ABC correction and the pair is assumed to in bull cycle.
The value of 1.57393 provided strong support to the counter and it reversed the pair from the downtrend.
A double bottom pattern formed at the formidable support of 1.57393 is actually the wave 1 and 2 of the bull cycle.
The break of the trendline and the formation higher high also adds strength to the above theory.
Currently, the pair is testing the broken trendline which can be used as a ‘buy on dip’.
We expect the pair to reach the resistance level of 1.60778 and we will update you regarding any change in our view.
EUR/AUD Technical analysisThe pair formed a head and shoulder pattern in the hourly chart and broke out of its neckline.
The follow up rally was also intense with good momentum.
Hence we expect the pair to continue its momentum and run off to the supports at 1.58974 and 1.58569.
EURAUD HEURAUD just broke inverted Head & Shoulder level in hourly time frame. RSI also above 60 level mark shows bullish signs.
Buy trade can be a good idea with 1:1.5 R/R.
Target : 1.61090
EUR/AUD Technical analysisEUR/AUD made a rally from its lows and completed its five wave structure.
It is due for a 3 wave correction and has completed first wave.
We expect it to pullback and then fall to the support at 1.59439.
EUR/AUD Technical analysisEUR/AUD has formed an inverted head and shoulder in the 30-min chart.
It has broken the neckline too and is consolidating just above it.
Hence we expect the pair to be bullish and move to the resistance at 1.59872.
