Art_of_Trading
Long

EURAUD: Major Support & Bat Pattern

FX:EURAUD   Euro / Australian Dollar
The EURAUD price dropped significantly last few days and it getting close to the major support level at 1.5630. The price respected that level multiple times (green arrows) and it is more likely it will do it again. The sellers are going to lock their profits and buyers are going to step in, which will increase the price up.

Moreover, the EURAUD formed a bat pattern , which increases the probability of this trade. The price already touched 88.6 Fibonacci retracement as an entry point to go long.
T1 – 38.2%
T2 – 61.8%

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out