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Euraudsell

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
EURAUD dropping nicely from channel resistancePrice has dropped perfectly from our resistance area yesterday and has risen to test our descending resistance once again. A further drop is expected below major resistance at 1.5417 (bearish channel resistance, horizontal overlap resistance, 61.8% Fibonacci retracement) to push price down towards 1.5285 support (Fibonacci extension, horizontal swing low support). Our next major level of resistance is at 1.5478 (78.6% Fibonacci retracement, horizontal break out resistance level). Stochastic (34,5,3) still has some good downside potential. 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 channel resistance!Price is testing major descending resistance at 1.5419 (bearish channel resistance, horizontal overlap resistance, 61.8% Fibonacci retracement) and a strong drop could possibly occur at this level to push price down towards 1.5285 support (Fibonacci extension, horizontal swing low support). Our next major level of resistance is at 1.5478 (78.6% Fibonacci retracement, horizontal break out resistance level). Stochastic (34,5,3) is seeing major resistance below 96% where a corresponding drop 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 on major support area, keep an eye out!EURAUD is now testing major support at 1.5335 onwards (Fibonacci retracement, horizontal overlap support, recent swing low support) and a strong bounce could occur as this level to push price up to at least 1.5112 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing major support above 2% 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