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ForecastCity
Aug 25, 2019 8:48 AM

Don't miss the great buy opportunity in EURAUD Long

Euro Fx/Australian DollarFXCM

Description

Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.6415). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. EURAUD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 60.

Take Profits:
TP1= @ 1.6525
TP2= @ 1.6620
TP3= @ 1.6785

SL= Break below S2
Comments
Pro_Trader_007
Thank you for your perfect Support / Resistance and Technical Analysis!
ForecastCity
@Pro_Trader_007, You're welcome and thanks for your comment on this idea.
dad1360
Hello . When AUDUSD strengthens and rises EURAUD comes down. Do you think AUDUSD is more likely to climb or is EURAUD ?
ForecastCity
@dad1360, There is a possibility that the price rises up until S2 is not broken.
dad1360
Hi , Is your analysis still valid ? Will the price rise again to your target ?
ForecastCity
@dad1360, Yes, it is.
fxniki
I found your trading suggestions very thoughtful.
ForecastCity
@fxniki, thanks for your comment on this post.
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