EURAUD - SELL IDEA
The EUR/AUD 2-hour chart displays a potential short opportunity as the pair appears to be completing its corrective wave (b) and may be entering wave (c) of its downward trajectory. The price is currently approaching the Fibonacci extension levels, with the 0.464 level at 1.64472, the 0.618 level at 1.63464, and the 1.0 level at 1.60964.
These levels represent possible targets for this short setup. Traders might consider entering a short position with these Fibonacci levels as potential take-profit points, aiming to capitalize on the continuation of the bearish movement. As always, it's important to watch for price action confirmation as the market approaches these key levels.
These levels represent possible targets for this short setup. Traders might consider entering a short position with these Fibonacci levels as potential take-profit points, aiming to capitalize on the continuation of the bearish movement. As always, it's important to watch for price action confirmation as the market approaches these key levels.
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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.