Hello Traders, here is the full analysis for this pair.
Watch strong action at the current levels for SELL GOOD LUCK! Great SELL opportunity EURAUD .
I still did my best and this is the most likely count for me at the moment.
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Hello Traders, here is the full analysis for this pair, let me know in the comment section below 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
Plan: wait for the price to bounce off from trendline or resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Current Trend limited downside
Weekly Trend Upside
Reason: Waiting for support level 1.6850. ( Resistance become support )
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EURAUD made a ludicrous 1000 pip run from the 1.61 level and handly pulled back. Price finally gave sellers a hand in the markets at the 1.71xx handle and is now making a double top offering a second chance to enter.
There is an abundance of unsettled bank liquidity below that needs to get clapped.
Targets: 1.676, 1.658, 1.645, 1.63178
Price is approaching our first resistance at 1.5958 (horizontal overlap resistance, 76.4%, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 1.5618 (horizontal overlap support, 50% Fibonacci retracement).
RSI (55) is also seeing a bearish exit and we might see a...
EURAUD is approaching our first resistance at 1.5754 (horizontal overlap resistance, 38.2% Fibonacci retracement) where a strong reaction might occur below this level pushing price down to our major support at 1.5556 (horizontal overlap support, 50% Fibonacci retracement, 100% Fibonacci extension). A breakout below our intermediate support at 1.5623 (horizontal...