D1 - Timeframe Analysis
In this Timeframe the bearish pressure that extends from October 20th is visible, we are now in a phase of order accumulation, with probable generations of new channels.
January 14-20 - The bearish continuation was rejected 3 times.
February 8, 2021 - The value reached 1.5620, Key chart level which could face increased buying or selling pressure.
This could be an area of interest for a trend reversal.
Now the asset could reach the 1.5772 level, quote that still holds EURAUD in the bearish trend , in analysis I highlighted a "V" path that could take EURAUD , on an upward trend visible in H4.
NOTE: Traders look out for key chart levels to place their buy and sell orders around those lines, which accelerates price-moves and increases volatility when the price reaches those levels.
Typically, key chart levels are identified by support and resistance lines, which act as barriers for the price when reached from the upside or downside, respectively.
Support levels are price-lines at which the market had difficulties to break below, signalling that buyers may join the market again if the price falls to a key support level. Resistance levels are quite similar to support levels, only that they form to the upside and signal price-levels at which the market had difficulties to break above.
Remember, this analysis refers to current market conditions, which may change in the future. The analysis in question is for educational purposes only, and is a personal opinion of the author.
Therefore, the analyzes, published articles and any other information are purely informative and do not in any way constitute financial advice, either individual or collective, nor do they constitute a solicitation of public savings, consequently all the contents listed above and reported below are to be understood as pure and simple personal opinions of the authors and educators, of free interpretation. Each user will use the information provided in this communication under their own responsibility and therefore it is reiterated that the author is relieved of all responsibility, for direct or indirect damages resulting from the use of the information, indications, links and contents. Trading carries a high risk of losing money. Any information is for informational and educational purposes only.
Shared operation does not constitute a guarantee of profits or winnings and the use of each shared input is at the reader risk.
_______
Stefano Leonardi
In this Timeframe the bearish pressure that extends from October 20th is visible, we are now in a phase of order accumulation, with probable generations of new channels.
January 14-20 - The bearish continuation was rejected 3 times.
February 8, 2021 - The value reached 1.5620, Key chart level which could face increased buying or selling pressure.
This could be an area of interest for a trend reversal.
Now the asset could reach the 1.5772 level, quote that still holds EURAUD in the bearish trend , in analysis I highlighted a "V" path that could take EURAUD , on an upward trend visible in H4.
NOTE: Traders look out for key chart levels to place their buy and sell orders around those lines, which accelerates price-moves and increases volatility when the price reaches those levels.
Typically, key chart levels are identified by support and resistance lines, which act as barriers for the price when reached from the upside or downside, respectively.
Support levels are price-lines at which the market had difficulties to break below, signalling that buyers may join the market again if the price falls to a key support level. Resistance levels are quite similar to support levels, only that they form to the upside and signal price-levels at which the market had difficulties to break above.
Remember, this analysis refers to current market conditions, which may change in the future. The analysis in question is for educational purposes only, and is a personal opinion of the author.
Therefore, the analyzes, published articles and any other information are purely informative and do not in any way constitute financial advice, either individual or collective, nor do they constitute a solicitation of public savings, consequently all the contents listed above and reported below are to be understood as pure and simple personal opinions of the authors and educators, of free interpretation. Each user will use the information provided in this communication under their own responsibility and therefore it is reiterated that the author is relieved of all responsibility, for direct or indirect damages resulting from the use of the information, indications, links and contents. Trading carries a high risk of losing money. Any information is for informational and educational purposes only.
Shared operation does not constitute a guarantee of profits or winnings and the use of each shared input is at the reader risk.
_______
Stefano Leonardi