EURAUD trade ideas
EURAUD: Bearish Outlook Explained 🇪🇺 🇦🇺
EURAUD broke and closed below a support line of a
horizontal range on a daily.
The broken structure turned into a resistance now.
The violation opens a potential for a bearish continuation.
Next supports: 1.611 / 1.605
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Short EUR/AUD setup looking for retest of 1.6000Thursday's bearish engulfing candle has seen the price move below 1.6188, a level that has acted as both support and resistance over recent weeks.
If the price can remain beneath this level into the European open, consider shorting below with a stop above for protection.
The initial target would be 1.6115. If that were to give way, a retest of 1.6000 could be on the cards.
Good luck!
DS
EUR/AUD Testing Support Below 1-Year PivotHello,
FX:EURAUD remains bullish in the long term; however, the price is currently below the 1-year pivot point (PP) and is testing support levels, though the extent of this decline is still somewhat uncertain. At present, the price is expected to drop to around 1.605445 or 1.600245. The initial 1-year support at 1.603541 has, so far, been sufficient to push the price upward temporarily.
TradeWithTheTrend3344
EURAUD H4 Double Top: More Downside Ahead?EURAUD is showing a classic double top pattern on the H4 chart. Price action has already broken the neckline, and it seems to be retesting it now. If the retest holds, we could expect further downside for this pair.
This setup aligns well with bearish momentum, so it might be a good opportunity to watch for short entries. Make sure to confirm with other indicators and manage your risk effectively.
What are your thoughts on this pattern? Are you looking to short EURAUD too? Let me know below!
EURAUD Looking for 150pips When you're taking a trade on EUR/AUD with a 150-pip profit target and a 40-pip stop loss, you're aiming for a trade setup that has a reward-to-risk ratio of 3.75:1. This means for every pip you risk (40 pips), you're potentially earning 3.75 times that amount (150 pips).
Here's a breakdown of the thought process:
1. Setting the Profit Target (150 Pips)
The 150-pip target likely corresponds to a significant level on the chart, such as a previous support or resistance zone, a Fibonacci extension level, or a major pivot point.
This target should be realistic based on the current volatility and historical price action of EUR/AUD.
Check for daily average range: If EUR/AUD tends to move around 100-150 pips per day, this makes the target more achievable within a reasonable time frame.
2. Defining the Stop Loss (40 Pips)
A 40-pip stop loss should ideally be placed below/above a significant technical level, such as:
Recent swing highs/lows.
A moving average.
A key Fibonacci retracement level.
The stop should protect you from a potential market reversal but not be so tight that normal market noise would trigger it.
It’s important to make sure that placing the stop here still keeps you below a key invalidation level, meaning if the stop is hit, your initial analysis was incorrect.
EURAUD: Bearish Move From ResistanceThe EURAUD currency pair formed a distinct double top pattern on the 4-hour chart after testing a key horizontal resistance level.
Today's economic data release triggered a price drop, breaking below the neckline of the pattern and confirming a bearish trend continuation.
The price is likely to continue downward, possibly reaching the 1.6127 level soon.
"EUR/AUD may rise from this level.""EUR/AUD may rise from this level."
As always, it's essential to apply proper money management and never trade without placing an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be measured over a series of trades, not just one.
Guys always read this quote.It will help you mentally."I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, 'I just lost my money, now I have to do something to make it back.' No, you don't. You should sit there until you find something.” “Jim Rogers:
Thanks!
EURAUD: Bearish Move From ResistanceThe EURAUD currency pair showed a clear double top pattern on the 4-hour chart, following a test of a significant horizontal resistance level.
The release of today's economic data caused the price to decrease and break below the pattern's neckline, confirming a bearish trend continuation.
It is likely that the price will continue to move downwards, potentially reaching the 1.6127 level soon.
EurAud Trade IdeaOn October 13th I spoke about price retesting a level before getting into any longs. Price finally pulled back into the level I'm personally interested in. I'm currently in my last trade for the week so I won't be entering another BUT if EurAud can give some type of bullish sign than you can expect the pair to continue heading to the upside. I won't be trading the pair until next week so hopefully all goes well and I'll look to execute some longs.
Targeting the Golden Fibonacci Level for Shorts EUR/AUD Analysis: Potential Move Up to the Golden Fibonacci Level
Based on Fibonacci levels and structural analysis, we might see OANDA:EURAUD move up toward the golden Fibonacci level, presenting a potential selling opportunity. Once the price reaches this level, it will be essential to observe how the market reacts.
Our target is the next order block above. If we see rejection at this level and the formation of a bearish structure, we will consider looking for short positions.
#1 Forexpair EURAUD is Down Trending Am about to soak the rice for about 10mins before I boil it for another 7 mins..
This is what the instructions say on how to cook rice on the rice packet
Will this work?🤔 I don't know.
Is this the exact instructions?
No it's not.
The method of how to cook the rice is based on my tolerance level
Meaning how much time am I willing to wait for it to cook plus the amount of gas that is needed to cook it.
Risk Management in trading is very similar to cooking rice on a gas stove
You need to calculate the best strategy to save on gas or firewood or charcoal to cook your rice
In this chart FX_IDC:EURAUD
The following 3 Steps have happened:
👉the price is below the 50 EMA
👉the price is below the 200 EMA
👉the price has gapped down on a down trend
These 3 Steps confirm a down trend market price.
🚀 Rocket boost this Content to learn more
⚠️Discliamer: Trading is risky please learn risk management and profit taking strategies because you will lose money wether you like it or not.
Bearish Outlook with Key Support Levels & Bullish ReversalEUR/AUD appears to be in a bearish trend and could drop to the 1.6200 level. At this point, we expect two possible scenarios: it may either find support at 1.6200 and reverse upward, or, if it breaks below this critical support level, there is a strong possibility that it could drop further, possibly down to 1.6030. From the 1.6030 level, we believe the bulls may step in, leading to a buying opportunity, signaling the start of an upward movement.
#EURGBP chance to catch wave 5Based on Elliott Wave theory, wave 5 of a motive move is often one of the best to trade, and we might have the opportunity to catch it here.
It appears we are at the end of wave 4, which, in comparison to wave 2, has been more complex and prolonged, in line with the principle of alternation.
Additionally, the price seems to be forming a failure swing, which is a bottoming formation, and according to Charles Dow’s principles, this is one of the three key tradable patterns.
To trade this setup, one could either enter now with a stop at the low of wave 4, or wait for a new high to form on this timeframe and place the stop below the current low.
Looking forward to seeing how this trade idea unfolds.