EURAUD has reached significant support, which is the same as Fibonacci level 50-60, so I expect a bounce up to the descending trendline and if it breaks it could target higher resistance levels. If the support breaks, the nearest support level may be the target.
Daily chart:
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nice analysis and precise trade target. what next now?
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@EricNyamu, It still seems bullish to me, and if it can significantly break through the current level, I would use Fibonacci levels as my target. Something like this:
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@EricNyamu, But if it follows the trend channel it's in, it could even reach the upper part of the channel.