**EUR/AUD Falling Wedge Pattern - Trade Setup**
https://www.tradingview.com/x/BADZNtiY/
**Pattern:** Falling Wedge (Bullish Reversal)
A falling wedge typically signals a potential breakout to the upside. If price breaks above resistance with strong momentum, a bullish rally is expected.
**Trade Details:**
📌 **Entry Point:** 1.71300 (Breakout confirmation above resistance)
🎯 **Target:** 1.74100 (Projected move based on wedge height)
🛑 **Stop-Loss (SL):** 1.70700 (Placed below recent support for risk management)
📊 **Indicator Used:** **EMA 50** (Price above EMA 50 strengthens bullish confirmation)
**Technical Outlook:**
1. **Breakout Confirmation:** Price should break above the wedge resistance with strong volume.
2. **EMA 50 Support:** If price stays above the EMA 50, it adds confluence for an upward move.
3. **Risk-Reward Ratio:** ~1:4 (Good potential reward relative to risk).
**Market Factors to Consider:**
🔹 **Fundamentals:** Keep an eye on economic news affecting EUR & AUD, such as interest rate decisions, inflation data, and employment reports.
🔹 **Market Sentiment:** Any risk-on or risk-off sentiment shifts could influence price movement.
🔹 **USD Correlation:** EUR and AUD react to global risk trends; any USD strength could impact the pair.
https://www.tradingview.com/x/BADZNtiY/
**Pattern:** Falling Wedge (Bullish Reversal)
A falling wedge typically signals a potential breakout to the upside. If price breaks above resistance with strong momentum, a bullish rally is expected.
**Trade Details:**
📌 **Entry Point:** 1.71300 (Breakout confirmation above resistance)
🎯 **Target:** 1.74100 (Projected move based on wedge height)
🛑 **Stop-Loss (SL):** 1.70700 (Placed below recent support for risk management)
📊 **Indicator Used:** **EMA 50** (Price above EMA 50 strengthens bullish confirmation)
**Technical Outlook:**
1. **Breakout Confirmation:** Price should break above the wedge resistance with strong volume.
2. **EMA 50 Support:** If price stays above the EMA 50, it adds confluence for an upward move.
3. **Risk-Reward Ratio:** ~1:4 (Good potential reward relative to risk).
**Market Factors to Consider:**
🔹 **Fundamentals:** Keep an eye on economic news affecting EUR & AUD, such as interest rate decisions, inflation data, and employment reports.
🔹 **Market Sentiment:** Any risk-on or risk-off sentiment shifts could influence price movement.
🔹 **USD Correlation:** EUR and AUD react to global risk trends; any USD strength could impact the pair.
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.
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.