EURAUD DAILY CHART

Updated
New year and i'm back in forex for some long-term trades.
As it shows on the chart, this is my plan for EURAUD pair, looking for a full breakout above the green trendline that started on oct'20 and made, not very long ago, a double-bottom formation. Will wait for the retest and try to enter around 1.5700 ! This analysis will not be valid if price cant go and stay above 1.5700 or if it breaks below the short-term red trendline.

If it does breaks below the red trendline, will update with new chart.

Lets have an amazing 2023
Note
Entering with a small position on a Long here, 1.5540
Note
Closing position at 1.6070. Will wait for a pullback to enter again
Note
entering a buy position if price retraces back to 1.5800 and will be adding if it falls to 1.5700.
Trade closed manually
Closing this tread.
One entry made. +530pips
breakoutBullish PatternsChart PatternsEURAUDeurorodriguesthstrendTrend Analysis

Disclaimer