Hello traders,
EURAUD pair is currently sitting at support level with a descending triangle formation. We will be looking into the price action and see if resistance trendline is broken to go long, or if the support is broken to short the pair.
Happy trading!
EURAUD pair is currently sitting at support level with a descending triangle formation. We will be looking into the price action and see if resistance trendline is broken to go long, or if the support is broken to short the pair.
Happy trading!
Note
If you are wondering why is short target set where it is and where is this trendline coming from, here's broader view :Note
We broke the support, and now we're retesting it. EUR is strong today due to the news that they will put in motion EUR750bn plan aimd Covid-19 recovery. Strong EUR today is providing us with a retest we needed to short the pair.
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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.