Based on the chart outlook, We were able to count a complete double zig zag
Elliot wave corrective structure on EURAUD, this suggests that an impulse wave will resume in the bullish direction
so far the confirmation level is attained.
I don't recommand buying euro in short period . We are protected with a strong resistance . The Euro has potential to go down in 15 minute period
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Pattern: Testing the 1D MA200 within the long term Channel Down.
Signal: Bearish as long as the 1D MA200 doesn't break.
Target: 1.0700.
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Most recent EURUSD signal:
Pattern: Channel Down on 4H.
Signal: Bearish as the price is close to the Lower High trend line of the pattern. The trend is bearish as long as the 4H MA50 is intact. If crossed, expect a test of the 4H MA200.
Target: 1.08050 (the inner Lower Low trend line).
My long term view and target on EURUSD:
...
Wait for Eurostoxx50 break out from the triangle.
Above there is a good selling zone to trade around 3250 area, where we can short to 2900.
Beyond the triangle, we have to wait for the retest of the trendline and short to 2600
Pattern: Channel Up on 1W.
Signal: Bearish as the price has been rejected on the Higher High trend line.
Target: 1.7000 (projected contact with the 1W MA200, which has been supporting since 2017).
Pattern: Multi year Channel Down
Signal: Bearish as the price is on the 2nd straight red 1D candle, having been rejected within the Lower High (Sell Zone) of the Channel Down.
Target: 1.0835 (0.618 Fibonacci retracement) and 1.07150 (just above the Buy Zone).
EUR/USD remains in a downtrend off peaks from earlier this month. Losses are being maintained by falling resistance & continued dollar strength.
DAILY PIVOT INDICATOR HOLDING THE TREND SHORT
Here is a midterm plan for the EUR/AUD. If you want, you can place another target about 1.62 level however when it comes to midterm plans, EUR/AUD is likely to cross 1.62.
Follow to hear more.
Entry: 1.604
Stop-Loss: 1.596
Target: 1.633
Have a nice week!
Pattern: 1H Head and Shoulders.
Signal: Bearish as the price is testing the neckline's Resistance with pressure from the 1H MA50.
Target: 1.11055 (potential contact with the MA200) and 1.10750 (1H Support).
Pattern: 1M Descending Triangle.
Signal: Bullish as the price is consolidating near the 1M Support while making a bullish divergence on the 1D RSI.
Target: 25.8000 (below the symmetrical Resistances).
Pattern: Based on the 1W RSI, it is repeating a pattern seen in 2016/ 2017.
Signal: Bullish as the price appears to have made a bottom on the 69.800 Support.
Target: 73.500 and 77.300 (0.618 Fibonacci retracement) for longer term.
Pattern: Channel Down on 1W.
Signal: Bullish as the price made a Lower Low.
Target: 1.12500 (slightly above the expected MA50 and below the 1D Resistance).
