Euraudtrade
FURTHER SELLING POTENTIAL ON EURAUD EURUAD is showing potential to continue moving bearish. I have marked up potential areas of support and resistance where price may retrace from to move toward our entry point before moving towards our take profit 1 and 2.
Ideally, should price move in our favour, you want to scale out 80% of your position at take profit 1 and let the 20% ride risk free to take profit 2.
Leave any questions or comments down below :)
#EURAUD, Great potentialIn the previous 2 times, as you can see in the graph above, the EURAUD stopped at the support line in 1.5990 and immediately rose to 300 pips, and even now there is no reason for history not to repeat itself.
The general trend is an upward trend.
The Stochastic shows oversold and potential trend change.
Target: 1.6250
EURAUD Market Outlook | Daily Forex Market BreakdownEURAUD
EA practically stuck on the trend line still. You may have heard me mention that you have to be extra cautious taking trades around trend lines because there is a lot of indecision in the market which leads to confusion. So for the time being I am going to step aside and let EA do its thing.
EURAUD Market Outlook | Daily Forex Market BreakdownEURAUD
Pushing back up a bit, bit choppy today as it has been all week. Expecting possible AUD strength right around the corner. I feel EA is going to push up and test highs before completely rolling over to the downside. Great short opportunity developing.
EURAUD Market Outlook | Alchemy FX Daily Telegram Breakdown.EURAUD
As previously mentioned we have a head and shoulders pattern on the daily time frame. Price looks to be breaking out to the downside but it could be a fake out and is still too early. I am going to wait patiently for this set up to develop some more although it does look like a good short.
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EURAUD Market Outlook | Alchemy FX Weekly Breakdown.EURAUD
Clean Head & Shoulders with EA on the daily perspective. EA is looking very bearish on the higher timeframes. On the lower timeframes we appear to be in a slight uptrend still. EA is a bit tricky right now so being adaptable will be key.
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EURAUD Short Trade Opportunity... Full analysis on screenPrice is up against some heavy resistance @1.63 and we can also see that Bearish momentum is increasing so I guess we will see a further decline in Price in the next few days. Crucial is a break of the trend line on the other hand if there is a break of the counter trend line I will close the trade manually. I hope my on screen analysis is clear but if not feel free to ask me in the comments below.
EURAUD reversed from resistance, potential drop!
EURAUD reversed off its resistance at 1.63682 where it could potentially drop further to 1.62797.
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