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CAPITAL_Trading

EURAUD on the floor.

Euro / Australian Dollar (FX:EURAUD)  
CAPITAL_Trading Updated   
FX:EURAUD   Euro / Australian Dollar
Trend Analysis Chart Patterns
6
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trendanalysis chartpattern
Hello traders,

EURAUD pair is currently sitting at support level with a descending triangle formation. We will be looking into the price action and see if resistance trendline is broken to go long, or if the support is broken to short the pair.

Happy trading!
Comment:
If you are wondering why is short target set where it is and where is this trendline coming from, here's broader view :

snapshot
Comment:
We broke the support, and now we're retesting it. EUR is strong today due to the news that they will put in motion EUR750bn plan aimd Covid-19 recovery. Strong EUR today is providing us with a retest we needed to short the pair.

snapshot
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