EURAUD made a ludicrous 1000 pip run from the 1.61 level and handly pulled back. Price finally gave sellers a hand in the markets at the 1.71xx handle and is now making a double top offering a second chance to enter. There is an abundance of unsettled bank liquidity below that needs to get clapped. Targets: 1.676, 1.658, 1.645, 1.63178
I have essentially been a "permabull" on GBPAUD since Jan of this year on this pair, even after the full bearish reversal of the late January bullrun at the beginning of Feb (Sell off from the 1.97 zone). Now I'm looking for the sell. Banks & Institutions trade both long and short at the same time to maximize profits and well as pain on retail traders. The 1.97...
TF: 8 hr Some large wicking can be seen in this area, looking for some corrective buys to the larger down trend. The general area for taking profit is where price has fallen out of a large support area on the weekly.
TF: 4 hr Looking for sells and potential wicking candles around the blue zone. Double top with rejection, bearish divergence on the RSI, and stochastic indicating overbought conditions make this a great short opportunity. Red dashed lines are Fibonacci clusters pulled from the previous impulse at 1.6120 area, look for some reaction around these lines.
DOUBLE TOP --> SELL THE RED ZONE IS INTERESTING TO SELL
HI there. Price is forming a continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
GBPAUD is at a very strong resistance intersection and i expect it will fall from here. However it could breakout and continue to rise to the 2nd resistance line and fall to retest.
I expect the start decline of EURAUD in wave 1 or A. Friends, support this idea with your Like and any Comment. Thanks.
DAILY CHART EXPLANATION: 🔸 Price is on a clear downtrend since 2019. . 🔸 It has consolidated on a Daily Wedge Pattern. . 🔸 Now, price is facing the confluence zone between the Support Zone and the lower trendline of the wedge. . 🔸 Will wait to see how it reacts, and, if there is a clear scenario, will look for a lower timeframe setup. 4H CHART ANALYSIS:
going long here after price touched bottom of the channel formation dated back to Dec '18! Kind risky trade in my opinion so i'm entering with small position. SL 60pips
A long term falling wedge has formed on the AUDUSD pair, potential for more lows to be formed but long term this is wildly bullish. Simple chart pattern analysis.
Hello traders. Here is an analysis on AUDUSD As we can see that the pair is in channel and is not breaking it it is likely to go up hit the resistence and then fall back again. One can wait for the comfirmation, like and follow for the perfect TP and SL Thanks