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Long

EUR/AUD forms bullish BAT pattern, good to buy at dips

FX:EURAUD   Euro / Australian Dollar
218 1 4
Harmonic Pattern - Bullish BAT Pattern

Potential reversal zone (PRZ) – 1.4715

EUR/AUD             has retreated after making a high of 1.5180 and is currently trading at 1.47350.

On the higher side minor resistance is around 1.4750 (3 day 4 H EMA ) and any break above would extend gains still 1.4780/1.4810/1.4835.

The pair’s major support is around 1.4715 and break below will drag the pair further down till 1.4700/1.4650 in short term.

It is good to buy at dips around 1.4720-25 with SL around 1.4675 for the TP of 1.4810/1.4835.
Thx for sharing! i have the same opinion!

The in my former Analysis mentioned supportlevel @ 1,4955 is broken. The Pair has reached very fast its trendchanels bottom. This is the level to watch!

Bullish szenario:
When swingtrader will buy the weakness (3?) and can break the ultrashortterm downtrend (mangenta line) it will be possible, that we will aim the last High ("2" @ 1,5255)
- If the Pair can break this Level we possible see a new High (2?) @ the trendchannels upper edge @ 1,558

Bearish Szenario:
- When the last valid "3" gets hurt, the shortterm short-szenario will go on. The next TP would be 1,4425
- Trading below this Level @ 1,4425 can be seen as a BIG SHORTSIGNAL, then the main trend is broken.
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