Euraudsell
SELL EURAUD ON DAILY CHARTEuro Australian Dollar (EUR/AUD) Exchange Rate Falls as ECB Leaves Rates on Hold
The Euro Australian Dollar (EUR/AUD) exchange rate slumped following the European Central Bank (ECB) meeting. The pairing is currently trading at around AU$1.6130.
The ECB left interest rates on hold during its January meeting. It is also expected to leave monetary policy on hold in the meantime.
EURAUD Market Outlook | Daily Forex Market BreakdownEURAUD
Looking like we are rejecting off resistance after going sideways, I feel EA could roll over to the downside soon. That being said keep in might we have just seen a nice push to the upside so we could keep climbing. Making consecutive higher highs/lows.
EURAUD approaching support, potential for a bounce!
EURAUD is expected to drop to 1st support at 1.60906 where it could potentially react off and up to 1st resistance at 1.61786.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
EURAUD approaching support, potential for a bounce!
EURAUD is expected to drop to 1st support at 1.60393 where it could potentially react off and up to 1st resistance at 1.62153.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
EURAUD SHORTAll key levels have been identified. Previous trade I posted of AUDCAD shorts was executed to perfection. Moving on to EURAUD here, the 1.632 level looks promising as well with beautiful rejection and alternation between S/R. The second entry if somehow this level fails would be the 1.643 zone where a longer-term move can be anticipated. A low-risk trade with huge potential to the downside in a medium-term swing to 1.597 area. 3 scenarios have been identified and color-coded from my perspective (blue arrow, green arrow, and purple arrow). As always, exhibit effective risk and money management and watch for any news. Leave any feedback, thoughts or suggestions below. Happy new year traders!