EURAUD Long to 1.7300 level Long

Euro Fx/Australian DollarFXCM

Description

⋅ Apr 19, 2020 3:38 PM

Price failing to fall below 4H demand zone so expecting a bullish push to 1.7300 level for 3rd tap of trendline and rejection of 4H 50EMA.

General bias for the pair is bearish as i'm expecting risk sentiment to remain risk-on given the relatively optimistic news expected from AUD/NZD this week re loosening of lock down measures

Supply and Demand Trend Lines

Comments

Beadesy

⋅ Apr 19, 2020 10:39 PM

Thanks for this. One to watch. Note that 1D 100EMA trend is bullish, but 4h,1h are bearish so not in alignment for a long set up yet?

Is this part of your analysis? Or are there other more prevalent factors at play?

Thanks again.

joerenshaw

⋅ Apr 19, 2020 8:03 PM

agreed mate I have the same TL and descending TL and up to the 50ema.