We recently saw price rally bullish and rejected off resistance. Price is currently showing potential to break bearish. I have marked Entry, stop loss and take profit.
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EURAUD Weekly Trade setup looks like Rising wedge Pattern
In Weekly, You can see Bullish engulfing Candle
The bullish engulfing pattern is a two-candle reversal pattern. The second candle completely 'engulfs' the real body of the first one, without regard to the length of the tail shadows. The Bullish Engulfing pattern appears in a downtrend or At the support...
One way to determine the strength of a currency is to add 2 moving averages to the charts, one set to 5 and one set to 12. If both the 5 MA and the 12 MA is pointing upwards, that means +1 and vice versa if both of the MA:s are pointing downwards. If they are pointing against each other, different direction or are flat lined, thats equals 0 as we are most likely...
. There is still a possibility of temporary retracement to suggested resistance line (1.6688). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EURAUD is in a range bound and the beginning of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic...
Hi guys been a very long time since my last post. Will try to post more charts on TV. Here i am looking to sell atleast till the 1.48 area. No entries just now gave up selling in the air. Will post updates from time to time.
Hello and welcome to my Trade Idea of the currency pair EUR/AUD.
Lets start with the Top Down Analysis.
Monthly: Monthly is in a beautiful uptrend.
Weekly: Weekly is very bullish too with many H.H (Higher Highs) and H.L (Higher Lows).
Daily: On the daily timeframe we see the upside trendline and a possible push to the highs.
Have a nice day.
EURAUD tested and quickly rejected a move above the final resistance level of the bullish trend, that spans all the way back to the end of 2017. The move to test final resistance level was a direct result of the trade war escalation. Nevertheless, the fact that price is very responsive to the final resistance level indicates that the trend is very much...
EUR is becoming weaker in front of dollar .
Which will have an effect on other EUR pairs.
Now we are anticipating a short down move but note that if the market retrace from the trend line
it can move up but if it breaks the trend line then we will execute.
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* This is not an investment advice just for...