Significant Decline (H4 Graph Time).
Stochastic with the red line above the blue line (the bear's dominate).
The red line above the green line inside the Ichimoku cloud which is a sign of continued declines.
Target: 1.5980
EURAUD LONG
TP 1 60PIPS
TP 2 100PIPS
TP 3 155PIPS
TP 4 OPEN
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After forming a long range right below the monthly PRZ we can see how price created a nice support at the 1.6200 area that also lines up with the 38% and the 61% but this week we finally saw how it broke and clsoe right below it forming a new low so right now i mexpecting a drop to the 1.6070 area maybe the 1.6000 area
Here is a technical Analysis for EUR/AUD on the 4hr. Overall on the daily and weekly chart the momentum has been towards the bulls however due to the volatility of this pip we are possible to also make gains on the bears of this market. Above the 1.62100 Dynamic Support and Resistance we have a head and shoulders formation. This is a signal that we could possibly...
I'm keeping an close eye on EURAUD at the moment. It looks like its heading back inside fridays range after taking clean lows + last weeks lows.
Potential short term target for this is Mondays & Fridays highs 1.6325 (clean highs). If we start breaking down below 1.6200 we could be heading towards 1.60
EURAUD
As previously mentioned we have a head and shoulders pattern on the daily time frame. Price looks to be breaking out to the downside but it could be a fake out and is still too early. I am going to wait patiently for this set up to develop some more although it does look like a good short.
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EURAUD
Clean Head & Shoulders with EA on the daily perspective. EA is looking very bearish on the higher timeframes. On the lower timeframes we appear to be in a slight uptrend still. EA is a bit tricky right now so being adaptable will be key.
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Rising wedge forming on the daily/4hr. Will be looking for a break and retest of this support for a nice 130 pips to the downside. once we reach the weekly bullish support I will then be looking for longs
Price is up against some heavy resistance @1.63 and we can also see that Bearish momentum is increasing so I guess we will see a further decline in Price in the next few days. Crucial is a break of the trend line on the other hand if there is a break of the counter trend line I will close the trade manually. I hope my on screen analysis is clear but if not feel...
Here are the key factors to keep in mind today for Euro trades:
Italian Trade Balance: The Italian Trade Balance for August is predicted at a €6.210B. Forex traders can compare this to Italian Trade Balance for July which was reported at €7.631B.
Eurozone Construction Output: Eurozone Construction Output for August is predicted to decrease by 0.1% monthly and to...
