Day chart: Following last Thursday's large bullish candle, I expect EURAUD will continue to go long in future days. As can be seen, it is now testing the trendline resistance. If it breaks the trendline and last week's high, it is possible to test next resistance level.
4 hour chart: On Monday we had two strong bullish candles completed near to last week's high. Two MAs all supports long direction. Now it is time to pay attention to this pair for long entries. Price may continue to go up if it breaks last week's high.
1 hour chart: We have to look for long opportunity based on the supports of trendline and MAs, it is better if we could have a fake downside movement before breakout happens. Keep watching the price performance on lower time frame and trade the high probability breakout with reasonable stop loss.
4 hour chart: On Monday we had two strong bullish candles completed near to last week's high. Two MAs all supports long direction. Now it is time to pay attention to this pair for long entries. Price may continue to go up if it breaks last week's high.
1 hour chart: We have to look for long opportunity based on the supports of trendline and MAs, it is better if we could have a fake downside movement before breakout happens. Keep watching the price performance on lower time frame and trade the high probability breakout with reasonable stop loss.
Trade closed: target reached:
First target today's adr @ 1.5065 has been reached.
Trade closed: target reached:
Price reached the resistance at 1.5103