EURAUD Last chance to enter.If you missed our buy entry on the EURAUD pair (September 28, see chart below), don't be alarmed, the market is providing once last chance to enter:
As we identified on that analysis, the most optimal buy entry was below the 1D MA100 (green trend-line), which is where all previous technical Higher Lows of the 1 year Channel Up were priced. That completed a -4.41% decline from the Higher High, similar to January 27. The minimum bullish sequence within this Channel Up has been +7.72%, but due to the presence of the Inner Higher Highs trend-line, we have to lower our long-term target from 1.7500 to 1.7350.
As you can see, the price is now again marginally below the 1D MA100, giving one final opportunity for buyers to join. It is on the same symmetric 0.786 Fibonacci level, which when it broke during previous Higher High rallies, the pair went for a new peak. The bullish break-out signal can be given with a candle closing above the 1.6850 Resistance.
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