Looking the EURAUD daily chart and of course using top down analysis approach. I see a scalp long with 1:2 ratio target.
The price action has clearly established a reasonable support level with vertical and horizontal confluence.
What do you guys see ??? Please leave feedback in the comment below:
I expect over the coming weeks to see eur/aud turn bullish, right now price is consolidating in a sidewards channel, and is forming a strong floor. expect price to break through this channel and continue on up. enter on pullback or breakout.
Price is in a slighlty bearish channel, this is indicated by price being firmly under the 200EMA on the daily and making lower highs. Price has been highly responsive to the 200EMA on the daily, as it has acted as an area of resistance for the price level. On the 4 hourly chart price has shorted by at least 100pips on the last two touches of the 200EMA. Overall,...
We are waiting for the break of our trend line - as the Euro is gaining strength and the Aussie has some strong shorts against it.
What can we see technically?
- Daily bearish,
- weekly bearish
- bounce from the demand zone purple zone.
- we can see the trend beginning to add long positions.
- we have made higher lows - showing the correction
- now in a...
Price now at major weekly Support.
Here we can have consolidation for next movement .
Breaking this support will be disaster holding this one we will have major Rally in Price .
let's Wait for Weekly candle to form
. There is a possibility of temporary retracement to suggested support line (1.6415). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EURAUD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support....