EurAud- Strong reversal from supportSince 22 September, EurAud has dropped almost linearly and the price fell almost 1000 pips and has reached 1.6350.
This zone is a strong support one at this point and acted as such in the past 4 years.
I expect this support to hold once more and the pair to rise and challenge 1.69 resistance
Dips against 1.6350 should be bought
Euraudanalysis
EURAUDBullish Indicators:
1) Support zone at 1.53456
2) Bullish Candle
Bearish Indicators:
1) Resistance zone at 1.56091
Plan A: One can take long position on the breaking of resistance zone of 1.56091 for the target of 1.57665 and 1.58937.
Plan B: One can take short position on the failure to break the resistance zone of 1.56091 for the target of 1.53546.
EURAUD weekly MovementHellooo...My Dragon Friends
if EURAUD give us some oppourtunity again.
i will make buy EURAUD around at 1.5400-20
SL 1.5350 and TP 1at 1.5600 and TP2 1.5655.
or if break that trendline, we can sell it at 1.5500 (wait until break).
Lets See
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Disclaimer On
EurAud waiting for a pullback to retestAfter a break of the major trendline, we are holding bearish bias on this pair but in lower timeframe , it is looking to break the downtrend channel for a pullback to the retest area. Waiting for a break and retest for a confirmation and better risk reward ratio.
EurAud false bullish break ?Still having bearish bias on this pair. With previous bearish momentum, it is currently forming a continuation pattern. We need a confirmation break for this trade as it is sending mix signal currently on the chart. It is expected price to break the major trendline to form a new low.
EURAUD H1 ANALYSISPrice has shown some support and we see a nice jump to the upside.
Targeting a retest of old demand zone. Good signal to see that buyers have stepped in the market for a discount price and push it up high.
Still in a downtrend on H4. Have to see a good burst of buyers to possibly start a new trend to test some highs.
EURAUD Trade Idea on 2H timeframe**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX