Technician
Long

EURAUD: Triple Bottom Breakout

FX:EURAUD   Euro Fx/Australian Dollar
1574 7 30
Triple bottom breakout on the four-hour time interval after taking the neckline at 1.4400, the price followed through the 200-days SMA today, if we stabilize above the average i think we could see further upside.

The area near the 200-days SMA and the neckline should act as a near term support now, where i would long looking for the targets outline on chart.. I would exit the trade if we break back below 1.4270 with atleast one four-hour candle closing.

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Technician
NidalDarawsheh
2 years ago
Thanks Technician for sharing, I am looking at the weekly chart different point of view but similar entry and target.
snapshot
Reply
Technician TOP NidalDarawsheh
2 years ago
yeah , the price is bouncing of the long term rising trend line. Also if we close this week here, the high of last week's inverted hammer candle will be broken which is bullish in my view
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steel.139
2 years ago
Hi Technician,
thanks for your chat. i see a red mark in the RSI. what is it means.
i guess you remind that RSI had reached a high-position , pullback will come?
i'm agree you that it will pullback to near 1.4410..
Reply
Technician TOP steel.139
2 years ago
yeah i was outlining short term overbought condition.
Reply
St_Forex
2 years ago
Target 1 achieved Thanks
Reply
EKolev1
2 years ago
Well, I am impressed!
Reply
Technician TOP EKolev1
2 years ago
thanks mate
Reply
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