Euraudforecast
EUR/AUD:UPTREND|TECHNICAL+FIBO ANALISYS|LONG SETUP🔔Welcome back Traders, Investors, and Community!
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EURAUD setups for classical break of structureEURAUD was on a classical downtrend but the downtrend structure was broken when it broke the market structure, breaking above the Lower High. Currently price is consolidating above local support. The next upward impulse move will confirm about the uptrend. 1.6150 is a global resistance where we keep our target.
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💡 EUR/AUD Potential long setup. Hello Traders. Looking at Potential longs on this pair. We must have a break and close above resistance structure in order for this trade to have potential.
The Eurozone’s trade surplus narrowed from €17.7bn to €15.8bn the data that came out failed to have an impact against the Aussie. The next major calendar event is for the AUD in approximately 9 hours. This pair is on my watchlist 👀
EURAUD, daily tf, HnS pattern in play
As you can see we spotted a HnS pattern forming and price already broken below the neckline.
Right now is the retest of the broken neckline so we might try selling this pair at this retest.
Notice that price broken below the neckline previously with a strong solid candle so we could see further drop in this pair.
Sell EURAUD 1.5540
Stop loss 1.5590
Take profit 1.5360 (3.6R)
Use only 1-2% risk
Good luck
#EURAUD set to continue the Downtrend 📉#EURAUD showed a weak signal in the early morning after European Markets open.
As the global economy recovers after the block caused by the Covid pandemic, the commodity currencies like the Australian Dollar or New Zealand Dollar are well placed to advance. In particular, the outlook for EUR/AUD is bearish as the pair has actually been strengthening since late February despite all the signs of an economic recovery.