Price is ranging after forming first Higher Low just after it came to Stop Hunt some orders on the Monthly Key Support Level.
We can find a divergence with MACD and the EMA 50 is now forming support.
Price can come back to retest 106.00 (Monthly Supporty) just as TVC:DXY is about to do with Montlhy Resistance, and then...
W1 - Double cycle down, false breaks with bullish divergence.
D1 - Inverted head and shoulders pattern, price broke above the neckline, bullish divergence.
Any pullback is an opportunity to look for buys with more bullish evidences.
I make a trade today on this pair. USD have fundamental source to getting stronger, crossing MA gives the signal to BUY and the double bottom confirm the forecast. And the Long move give me carryprofit too.
Price making a nice squeeze which means that price will go for another push to fake-out all people who are currently shorting FX:EURAUD
-We got a nice hammer and the bottom of a squeeze, and triple bottom so this just confirms my thought.
Good luck traders.
Hey everyone. We can see clear correction and now it is going to be the fifth wave also we can see a little RSI divergence.
My plain is :
BUY STOP - 129.168
STOP LOSS - 128.982
1TP - 129.494
2TP - 129.682
3TP - 129.911