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Euraudbuy

EURAUD Testing Strong Ascending Support, Prepare For A BounceEURAUD is bouncing nicely off major support presenting us with a good buying opportunity. Buy above 1.6058. Stop loss at 1.6020. Take profit at 1.6185. Reason for the trading strategy (technically): Price is testing major support at 1.6058 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, ascending support) and a strong bounce could occur at this level pushing prices all the way up to major resistance at 1.6185 (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is seeing a nice bounce above major support at 6.8% with good further upside potential.
Long
by MEX_Exchange
EURAUD seeing strong bullish support, potential for further riseEURAUD is seeing strong ascending support maintain our bullish momentum. We’re also seeing strong horizontal overlap support at 1.5799 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a bounce could occur at this level to push price back up to 1.5951 once again (Fibonacci extension, horizontal swing high resistance). Stochastic (55,5,3) is seeing strong support above 3.5% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
2
EURAUD starting to breakdown, watch for a potential plummet!EURAUD has finally broken our major support-turned-resistance line at 1.5639 (Fibonacci retracement, horizontal overlap resistance) and a strong drop could occur from here that could push price all the way down to 1.5494 (Fibonacci retracement, horizontal pullback support). RSI (89) is still holding well above our ascending support line and only a break of this would add further bearish momentum to our setup. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
1
EURAUD testing major resistance, watch for a potential drop!EURAUD is testing major resistance at 1.5410 (Fibonacci retracement, horizontal overlap resistance) and a strong reaction could occur at this level to push price down towards 1.5272 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 96% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
EURAUD testing major resistance, potential reversal!EURAUD is testing major resistance at 1.5354 (Fibonacci retracement, horizontal overlap resistance) and a reaction off this level could be expected to push price down to 1.5267 support (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 97% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
EURAUD testing major support, could be seeing a bounce! EURAUD is now testing major support at 1.5267 (Fibonacci retracement, horizontal swing low support, pullback to descending support) and a bounce could occur at this level to push price up to at least 1.5354 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (55,5,3) is seeing major support above 2.8% and a corresponding bounce could occur at this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
2
EURAUD facing strong resistance, potential upcoming drop!EURAUD is testing major resistance at 1.5423 (50% Fibonacci retracement, horizontal swing high resistance, bearish descending channel) and a strong reaction could occur at this level to push it down towards 1.5310 support (50% Fibonacci retracement, horizontal pullback support). RSI (34) sees a descending channel signaling intermediate downside pressure. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
EURAUD testing resistance, potential drop!EURAUD is starting to test major resistance at 1.5431 (50% Fibonacci retracement, horizontal swing high resistance) and a potential drop could occur at this level to push price back down to major support at 1.5297 (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 98% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
1
EURAUD forming a double top reversal!EURAUD has started to form a really strong reversal signal with a double top being confirmed at 1.5378 (23.6% Fibonacci confirmation level, horizontal pullback resistance). A potential drop could occur from here towards 1.5311 support (above 50% Fibonacci support, horizontal overlap support, double top reversal potential). RSI (34) sees a couple of recent bearish exits signaling that a reversal is potentially in progress. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
EURAUD back to resistance, possible reversal EURAUD is now back to testing major resistance at 1.5285 (38.2% Fibonacci retracement, 61.8% Fibonacci retracement, horizontal pullback resistance). Price could not break through this level since yesterday and price action seems to be stalling around this area. A possible drop could occur at this level in line with our bearish channel to push price towards 1.5182 support (Fibonacci extension support). RSI (21,5,3) is seeing major resistance at 96% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
4
EURAUD on strong support, watch for a potential bounce!EURAUD is testing major support at 1.5244 (61.8% Fibonacci extension, 78.4% Fibonacci retracement, horizontal pullback support, bullish bat formation, bullish divergence) and a strong bounce could occur at this level to drive price up to at least 1.5432 resistance (Fibonacci retracement, horizontal swing high resistance). RSI (34) sees strong bullish divergence vs price signaling that a bounce is potentially impending. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
4