Chart Insight:
EURAUD is forming a descending triangle, with lower highs and a solid horizontal base. Price rejected from a confluence zone: trendline + former support turned resistance (supply zone). A drop is expected if price fails to reclaim 1.7550.
Technical Highlights:
• Triangle formation shows pressure building.
• Supply zone rejection at 1.7550
• Clean market structure shift from bullish to distribution to bearish.
• Liquidity Targets: 1.7095 and possibly 1.6700.
Fundamentals:
• EUR Weakness from ECB dovish stance and weak growth outlook.
• AUD Strength Potential tied to commodities and better inflation handling.
Trading Plan:
• Sell on rejection at 1.7500–1.7550
• SL: 1.7827
• TP1: 1.7095
• TP2: 1.6700
Price rejecting trendline + supply after clear lower highs. A bearish continuation may follow into 1.7095 then 1.6700 if the rejection holds. Structure, confluence, and macro bias all align.
#EURAUD #DescendingTriangle #ForexTrading #SupplyAndDemand #SmartMoney #4HAnalysis #PriceAction #StructureBreak
EURAUD is forming a descending triangle, with lower highs and a solid horizontal base. Price rejected from a confluence zone: trendline + former support turned resistance (supply zone). A drop is expected if price fails to reclaim 1.7550.
Technical Highlights:
• Triangle formation shows pressure building.
• Supply zone rejection at 1.7550
• Clean market structure shift from bullish to distribution to bearish.
• Liquidity Targets: 1.7095 and possibly 1.6700.
Fundamentals:
• EUR Weakness from ECB dovish stance and weak growth outlook.
• AUD Strength Potential tied to commodities and better inflation handling.
Trading Plan:
• Sell on rejection at 1.7500–1.7550
• SL: 1.7827
• TP1: 1.7095
• TP2: 1.6700
Price rejecting trendline + supply after clear lower highs. A bearish continuation may follow into 1.7095 then 1.6700 if the rejection holds. Structure, confluence, and macro bias all align.
#EURAUD #DescendingTriangle #ForexTrading #SupplyAndDemand #SmartMoney #4HAnalysis #PriceAction #StructureBreak
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.