After a false break of what should have been strong support at 1.6550-1.6600 zone (In my opinion stop hunting, and liquidity search for longs) EurAud finished the day with an immense bullish engulfing from the trend line support and above horizontal one.
I still have a target of 1.7 for this pair and corrections should be bought
Coming up to a key FIB whilst maintaining the channel. Nice confluence here. As Hedge Funds have to close shorts in this pair and start taking longs hence the slowness in the turnaround once it broke from the monthly channel it developed originally. DYOR
Hello my friends,
The second setup for next week gonna be EURAUD pairs.
As you can see this pair has shifted from bearish to become bullish as price now making higher highs and higher lows.
There is not many things to analyze in this pair and i am just gonna use simple support and resistance along with price action.
I do see a possibility that price making a...
Hey tradomaniacs,
welcome to a new free trading-setup.
EUR/AUD: Daytrade-Preparation
Notice: This is meant to a preparation for you. As always we will have to wait for a confimation!
Market-Buy: 1,65785
Stop-Loss: 1,65115
Target 1: 1,66420
Target 2: 1,67000
Target 3: 1,67740
Target for One-Target-Trader: 1,67000
Stop-Loss: 68 pips
Risk: 0,5% -...
From the beginning of June, EUR/USD made a rectangle, and it's broke this channel between points C & D . Here, I have used the ABCD pattern to set the levels. C point is 0.5 , and the BC projection is 2 . From D point, it fell. It will bounce from the potential reversal point, and it will reach the following target 1.67700 - 1.69600 -1.71300 .
But if...
Enter buys on EURAUD for last trade of the night.
The 30min and 1hr closed bullish above minor resistance, so I took a countertrend trade with reduced risk. I was meant to ent a .02 lot but entered a .01 lot, so making that mistake put me off a little.
The price moved around 6 pips in my direction, but I decided to move stops to breakeven early (usually I do at...
Last week EurAud broke violently above 1.66 resistance, accelerated and reached a local high at 1.68.
A normal correction followed and the pair come to confirm old resistance as new support.
Now the pair is trading upwards, also above the descending trendline and looks ready to resume its upward move.
Buy dips for this pair is my preferred strategy.
