Euro against Australian Dollar pair, is looking to escape from a triangle pattern , which is 2 months old, may it have bullish week to attain the price level around 1.57500 area
Analysis only for education purposes
as seen on chart there is double top and it clearly means that trend reversal. then additional trendline also broken and i am sure it will go down 80% chances and i am placing stoploss just above the dounle top. trade safely.
There is a possibility of temporary retracement to the suggested support line (1.5510).
. If so, traders can set orders based on Price Action and expect to reach short-term targets."
. 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...
RUNNING FLAT PATTERN
EURAUD IS IN THE LAST LEG OF CORRECTION(a 5 sub wave move) WHICH COULD GO BEYOND THE PREVIOUS LOW MADE DURING MAJOR 'A' WAVE.
IN IT'S PREVIOUSLY 2 LEGS IT HAS SHOWN A 3 SUB WAVE CORRECTIVE MOVE.