The recent downtrend will further accelerates the selling in this pair.Rising wedge pattern will give us good risk
reward ratio.Rejection around 1.57000 and support around 1.52500
Breakdown of the minor rising channel will be a good signal to sell this pair.Primary target would be 1.52500
*Price-below price action level
*Price around point of...
Welcome to our Trade Setups - April 16th ( EURAUD ) !
ENTRY LEVEL @ 1.54436
SL @ 1.55244
TP @ @ 1.52820
Max Risk: 1% - 3%!
Risk/Reward Ratio: 2
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Since finding strong support at 1.5270, EurAud has started to trade upwards and is making higher lows for a month now.
At this point, the pair is consolidating just under important 1.56 resistance and I believe this resistance will eventually fall.
A break here would be significant and will clear the road to 1.6
I'm bullish EurAud as long as the price is above 1.54
The long term trend for EurAud is down and, after correcting exactly in 1.56 resistance, the pair seems to resume its downward trajectory.
At the time of writing the pair is trading at 1.5440 and is just in confluence support.
I believe this support will fall and rallies should be sold
A break above resistance would negate this scenario
#EURAUD are facing bearish pressure and a break below our downside confirmation could trigger a further drop.
#EURAUD_Sell @ 1.54593 I SL-1.54900 I TP-1.52716
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Hello Traders, here is the full analysis for this pair, let me know if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied