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BitonGroup
Jun 3, 2021 7:19 PM

EURAUD (Euro/Australian Dollar) Currencies Analysis 04/06/2021 

Euro Fx/Australian DollarFXCM

Description

we have earlier analyzed this currency Pair and have already achieved the First target of our Past Analysis:




Technical Analysis:
We draw the Fibonacci retracement from the high to low of the bearish cycle in monthly timeframe and defined the levels.
What we think that there are two scenarios.

First: EURAUD is consolidating and accumulating above monthly 38.2% Fib retracement therefore it continues its uptrend movement 61.8% and 78% monthly Fib retracement.
where we have defined the Targets and they are 1 to 3 TPS consequently.

Second: the price might fall and goes to some down swing which we have defined the targets by the Fibonacci Expansions

but we are mainly bullish on the Pair

Trade closed: target reached

1 TP achieved

Trade active

Comments
shantanique836
Nice, check my ideas pls
BitonGroup
@shantanique836, thanks, sure dear
mahdisoltaninjad
A very beautiful and accurate analysis
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