EURAUD has turned marginally bearish on its 1D technical outlook (RSI = 44.934, MACD = 0.000, ADX = 23.651) and dropped under the 1D MA50 and 1D MA200. This happened at the top of the Channel Down. We turn bearish, aiming at a symmetric LH wave of -4.31% (TP = 1.60250).
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The EURAUD pair is on a breadih 1D technical outlook (RSI = 41.370, MACD = -0.007, ADX = 32.977) as the price remains under the 1D MA100 after breaking the bottom of the dotted Channel Up on Friday.
If it doesn't cross above the LH trendline (notice the similar pattern in the previous correction waves), it will likely test the 1D MA200 and S1, which can match the...
EURAUD has made a Double Bottom on the 1D MA50, keeping the 1D time-frame bullish (RSI = 58.711, MACD = 0.006, ADX = 17.748). This is primarily a bullish signal and as the 1D RSI is forming the same Channel Down which on April 14th kickstarted a strong leg up, we will take a short-term buy position targeting the 1.0 Fibonacci (TP = 1.67850). The extension can...
EURAUD is touching at the moment the bottom of the Channel Up pattern that has been in place for 10 months. The 1D time frame is technically almost oversold (RSI = 32.980, MACD = -0.011, ADX = 36.222) with the RSI in particular last time it was that low was in July 28th 2022.
If the price doesn't rebound on the current level, we expect a test of the 1D MA200. In...
Here is another Forex Trading Snack.
To go along with my stock risk on or off trading view, here is my favorite Forex pair that matches closely to my stock trading view. Of corse the two instruments trade inversely to each other.
My main strategy for this weeks market open is to follow the recent up channel the pair has been trading in. The downside has been...
