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Euraudsell

EURAUD: Bearish Patterns Emerge Below 1.4180The EURAUD is in the process of carving out an ascending channel on the 4-hour time frame. It’s the result of the 280 pip rally that began in the final session of March. Although the pair climbed to a high of 1.4216 yesterday, sellers were out in force above the 1.4180 handle. The selling pressure formed a 4-hour bearish pin bar, hinting at a substantial depth of offers in this area. To confirm lower prices are likely over the coming sessions, a close below channel support is preferred. Such a close would expose the trend line that extends from the March 20th low at 1.3872. From a broader perspective, the technical landscape since early March seems to indicate a head and shoulders pattern. While I don’t personally trade these patterns on anything below the daily time frame, the structure could still signal that lower prices are likely. From here, I’ll wait for channel support to break on a 4-hour closing basis before considering an entry. At the moment that level comes in near 1.4120. A close below it would expose trend line support near 1.4020 and possibly the 1.3890 handle. Alternatively, a 4-hour close above 1.4180 would make the chart a bit harder to read. It wouldn’t negate the ascending channel, but it would cause me to doubt the potential for an immediate move lower from current levels.
Short
by Daily-Price-Action
Time for a Big Reversal? (EURAUD analysis)Hi guys, here we are on the 4H chart on EURAUD, i've been watching it for quite a bit now. As you can see price is now testing a key resistance level that also lines up with the 618 retracement of the previous leg. As soon as price came to that zone, it got immediately rejected by some selling pressure. I'm selling at 1,413s level, with stops just 2-3 pips above 1,4200. Target1 would go around 1,4050. If it breaks the head and shoulders neckline it could go all the way down to 1,3900 and even further. I'll keep you updated. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
Time for a Big Reversal? Hi guys, here we are on the 4H chart on EURAUD, i've been watching it for quite a bit now. As you can see price is now testing a key resistance level that also lines up with the 618 retracement of the previous leg. As soon as price came to that zone, it got immediately rejected by some selling pressure. I'm selling at 1,413s level, with stops just 2-3 pips above 1,4200. Target1 would go around 1,4050. If it breaks the head and shoulders neckline it could go all the way down to 1,3900 and even further. I'll keep you updated. If you want to share your view, or simply ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2618 setup in a Trend continuation tradeHi guys, just wanted to share with you this simple structure analysis on EURAUD. As you can see on the left hand side of your screen, this pair finally broke the 1,41 strong support that has been created previously. In this case we know it is a short signal, but we should wait for a retracement instead of chasing the price. So, i wait patiently and now price is up to the broken support that could become resistance once is broken. Thus, i start looking for clues on lower timeframes such as 4H and 1H. On the right hand side of the chart there's the hourly chart of this pair and you can see price has formed a double top followed by a break of structure to the downside, and this represents the selling signal were looking for in order to enter the market. I'll wait for a 618 retracement and then sell at market with stops above the highs and target1 at the retest of the lows. Target2 to be determined. I'll keep you updated. If you want to share your standpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2618 at previous StructureHi guys, just wanted to share with you this simple structure analysis on EURAUD. As you can see on the left hand side of your screen, this pair finally broke the 1,41 strong support that has been created previously. In this case we know it is a short signal, but we should wait for a retracement instead of chasing the price. So, i wait patiently and now price is up to the broken support that could become resistance once is broken. Thus, i start looking for clues on lower timeframes such as 4H and 1H. On the right hand side of the chart there's the hourly chart of this pair and you can see price has formed a double top followed by a break of structure to the downside, and this represents the selling signal were looking for in order to enter the market. I'll wait for a 618 retracement and then sell at market with stops above the highs and target1 at the retest of the lows. Target2 to be determined. I'll keep you updated. If you want to share your standpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
EUR/AUD, DAY CHART, SHORT (11-DEC-2016)Note: EUR/AUD breaks the Descending Triangle Pattern. Further downward movement is expected! Recently, we see a consolidation after the breakout. If the price able to break the consolidation support line at 1.417x area. Here are 2 ways to trade: 1. Short it directly after the breakout with smaller lot size. 2. After breakout, wait for pullback to the support zone and another bullish signal to short. Can trade with righ lot size :) Caution on the AUD employment data on Thursday. Fundamentally, EUR is still on the downside.
Short
by YongLiang