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Euraud4h

Long EURAUD Longterm Based on 4H, 1D + 1W Charts for 300 PIPS!Here we have a trade opportunity for the EURAUD which has recently broke out from a Daily + Weekly uptrend. Price has found support at the 38.2% fib level and bounced up nicely. The potential target zone will be the point it broke out, with a longer term target of continuation of the uptrend. This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Long
by AEFX786
2
EURAUD: Bearish Patterns Emerge Below 1.4180The EURAUD is in the process of carving out an ascending channel on the 4-hour time frame. It’s the result of the 280 pip rally that began in the final session of March. Although the pair climbed to a high of 1.4216 yesterday, sellers were out in force above the 1.4180 handle. The selling pressure formed a 4-hour bearish pin bar, hinting at a substantial depth of offers in this area. To confirm lower prices are likely over the coming sessions, a close below channel support is preferred. Such a close would expose the trend line that extends from the March 20th low at 1.3872. From a broader perspective, the technical landscape since early March seems to indicate a head and shoulders pattern. While I don’t personally trade these patterns on anything below the daily time frame, the structure could still signal that lower prices are likely. From here, I’ll wait for channel support to break on a 4-hour closing basis before considering an entry. At the moment that level comes in near 1.4120. A close below it would expose trend line support near 1.4020 and possibly the 1.3890 handle. Alternatively, a 4-hour close above 1.4180 would make the chart a bit harder to read. It wouldn’t negate the ascending channel, but it would cause me to doubt the potential for an immediate move lower from current levels.
Short
by Daily-Price-Action
Time to BUY EURAUD? Let's see...EURAUD has been bullish for the past couple of days, and for the past 5 days (to be specific), the pair has managed to retrace 61.8% of its bullish move. Friday's candle has a long-ass lower wick which managed to reach the 61.8 Fibonacci retracement level which also confirms bullish momentum being dominant. Looking at the bigger picture - there's a descending triangle in play and price is fresh off the triangle's support zone around 1.44330/1.43506. With this setup, I'm anticipating a fifth test of the triangle's resistance (diagonal) and possibly a breakout (likely) of the diagonal resistance since this chart pattern is a trend continuation pattern. Heed fundamentals! What do you think? ANYTHING CAN HAPPEN!
Long
by UnknownUnicorn94714