Overall, we remain bearish on EUR/AUD
There is a long Descending Triangle Pattern.
Now the price break the neckline aka the strong
After breaking this stong support line, we see a
slight pullback back on the support line and
There is a high probability that it will continue moving down.
Looking to long EUR/AUD at 1.4350 with a stop at 1.4275 with a 75 pips risk
Target is 3:1 (Make 225 pips with a 75 pips risk) around 1.4575 or higher, we will update the trade as soon as its triggered.
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Hello everyone, we can see a kind of breakout of 1.45 level, is it false or pullback for a continuation? I can't tell. I need more signal to decide about which direction to take. For now it seems coming back into the channel. if so, I will go short and target the support level for TP, SL somewhere near 1.46
Notice, this level have been holding price for a very...
Hello Guys I hope you are having good time, I'm expecting big moves in next month on all euro pairs: looking at structure of euraud a big impulse to upside is coming in next month.It will take sometime to shoot up because it need to breakout of weekly consolidation.keep an eye on it:)
This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
EUR/AUD breaks the Descending Triangle Pattern.
Further downward movement is expected!
Recently, we see a consolidation after the breakout.
If the price able to break the consolidation support line
at 1.417x area.
Here are 2 ways to trade:
1. Short it directly after the breakout with
smaller lot size.
2. After breakout, wait for pullback to the
EURAUD has made a huge recovery from the 1.4150 area. The daily candle suggests further upside move but we will only take the trade on the breakout. Inverted H&S pattern is formed and this also is in line with our expectation that the pair will make further move to the upside after the breakout.
Two wonderfully slope trendline pointing downwards. Three touches on the top and two on the downside. It took more than 3 weeks to develop this reversal pattern. About half of the formation act as consolidations of the prevailing trend. A breakout to upwards is eminent and of course, can buy after after the breakout.
Possible Long Position on EURAUD.
I have I have a short term buy projection (XABCD-red), with a somewhat in complete medium to long term sell projection (xabcd-blue incomplete). My targets short term (immediate) targets would ideally be the retracement of CD: Fib levels 0.38, 0.50, and 0.618.
The long term is still highly speculative at this stage... We'll have...