EurAud- Stop hunting and 1.7 after?After a false break of what should have been strong support at 1.6550-1.6600 zone (In my opinion stop hunting, and liquidity search for longs) EurAud finished the day with an immense bullish engulfing from the trend line support and above horizontal one.
I still have a target of 1.7 for this pair and corrections should be bought
Euraudforecast
EurAu- possible rise with double confirmationLast week EurAud broke violently above 1.66 resistance, accelerated and reached a local high at 1.68.
A normal correction followed and the pair come to confirm old resistance as new support.
Now the pair is trading upwards, also above the descending trendline and looks ready to resume its upward move.
Buy dips for this pair is my preferred strategy.
EURAUD SHORTHere's a trade I took yesterday on EA.
- Downtrend, with lower highs and lower lows being created.
- Nice reaction from 0.786 fib level and then a big bullish confirmation candle to the downside (my entry).
- Price made some decent moves to the downside and is currently reacting nicely at 0.618 fib level.
EurAud- Is the correction over?I was bullish EurAud ever since 1.65 and the break above 1.66 came to confirm my outlook.
The break was violent and the pair skyrocketed to 1.68 in a straight line.
A correction after this violent rise was normal and this gave bulls the opportunity to open long trades on dips.
Now the pair found some support on 1.6650 zone which is also 50% fibo retracement and the correction could be over now.
A confirmation of this outlook comes with a daily close above 1.67 and this also opens the door to further gains to my predicted target of 1.7
EurAud- buy dips is my strategyAfter breaking 1.66 important resistance, EurAud went, like a racket, straight up to 1.68
Now the pair is in a normal correction which can represent a good opportunity to buy dips for a resumption to the up move.
My target for this pair remains 1.7 in the medium term and I will look for opportunities that offer a good R:R
EurAud- genuine break?For 5 months now, EurAud is trading in a range...
However, From September the move looks constructive and in October we have a new base at a higher price.
The pair is trading now above resistance and this could be a genuine break.
I'm strongly bullish as long as the price stays above 1.65 and in the case of a real break I expect a rally to 1.7 zone
EURAUD NEW ANALYSIS ! SEPTEMBER 20THHello Dear Traders, here is the full UPDATED Analysis / Breakdown for EURAUD.
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EURAUD Trading Setup | Local Resistance price is moving in supply and demand zone we broke the local resistance and now trading above if we hold retest the local resistance than we can go higher from here. and follow the orange path
if we don't hold the local resistance zone than we can touch the demand zone and after adding more fuel we can go higher to break the resistance if break than we will likely to follow blue path
EURAUD / LONG - Price is just rangingFrom what I can see on the daily price is just ranging in this small area however there is still an opportunity to make profit.. Price has broken its current structure and is going to retest its support zone
I am waiting for a bounce off of one of the Fibo levels then we can go long