AUDEUR may have found the support and continue the Upward Trend.
Flexble Target Signal: The upper ribbons become Yellow or Red, which means the possible resistance works and it can be a good time to take profit or to stop loss.
Stop:0.615 - a tiny stop loss setup
Indicator: 9 Seasons Rainbow Multi...
EURAUD has been moving in an interesting manner of late.
If you noticed on the 4 hour, a consolidation around 1.63500 to 1.6300 - with a spike up to 1.6450 and falling back into the 1.6300 - 1.6350 range thus creating a head and shoulders.
Daily - We have come into Yearly highs, with a Spike up and a bearish close on the day, forming a shooting star/bearish...
Had a position like this earlier although i pulled out prematurely. We have a range here with euro maintaining strength and AUD loosing strength when checking other correlated pairs. Also interest rate cuts should bring the dollar down further hence the short. Lets see how we go hey.
After the great short trade we did 2 months ago, EURAUD had made a big rally past weeks and it has to make a correction sometime. With this possible wedge in the making, we might be able to catch the high for a decent correction. It's not a great wedge, because it could possibly be a ascending triangle instead. So i want to see a few more rejections first before...
I have been looking at this one for a while now. It seems the support of that wedge finally broke, so we should see more bearish movement coming period. The lower high is set, but not confirmed yet. Needs to break that green support (break the previous low) around 1.590 first. On the right it seems it broke a support line and now doing a retest of it.
I tend to...
On w2 AUD was the strongest against all currencies.
EUR on w2 was one of weakest.
For w3 i will have bullish position
Looks like bears losing steam, but still in cotrol of market
Exhaustion candle as well
Uptrend, good power.
Uptrend, seems reversal pattern...
EURAUD has dropped a lot the past few weeks and went in a straight line towards the current support area. There is the potential for a bounce here and best case scenario we start to see a small wedge developing. If this happens i will make an attempt at the low of that wedge to get in with half a pos and increase it if the wedge breaks upwards.
Looks like a solid triangle and a possible inverse H&S. Would be a nice scalp trade trying to catch the correction of the big drop it's made lately. I am going to go long if the triangle breaks and will move the stop higher as soon as we move higher. As soon as i get the chance, i want to move the stop to entry. The daily also shows a possible buy/reversal signal
EURAUD M30 chart
There are two bowl formations on the M30 graphic, large and small
First target is 1.54xx Second target is 1.55xx
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
I'm sorry for the impaired expression..Just watch the chart, not what I write. :)
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EUR AUD SHORT! Just finished a 5 wave elliot which will need an ABC correction. We have also formed a head and shoulders. This should go down to the .618 of the fib which is also where the gap needs to be filled. Ideas always welcome.