EURAUD possible break fake out
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Eur Aussie was in bull trend today because news for AUD shows negative impact.
But the currency is now stucked in a wedge now wait for it to break the line then you can go short
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After the news spike last week. We have seen price being rejected at the previous lower high formation with wicks above.
Interestingly enough we have seen a higher low, as shown on the chart, that could possibly be an early price action signal that the trend is about to shift, at least on intraday perspective.
If the market can push through that previous lower...
Here is the key factor to keep in mind today for Euro trades:
German ZEW Survey and Eurozone ZEW Survey: The German ZEW Survey Current Situation Index for September is predicted at -15.0 and the German ZEW Survey Economic Expectations Index at -38.0. Forex traders can compare this to the German ZEW Survey Current Situation Index for August which was reported at...
- further upside expected to 1.61615 - major KEY ZONE
- watch price action before any entry decision.
- if we break successfully 1.61615, then the next stop will be 1.62300 and 63400
Regards, GoldfXcc Team
After the double bottom, we are waiting for the breakout of the static resistance @1.613 showed in the 4H TF. If volumes are equal or higher than the average we can entry LONG.
Note: the Breakout of the RSI downtrend is occured.
Hint: wait for more confirmation which is the breakout of the static resistance
Market printed a harmonic (BAT) pattern on the Daily. Market broke daily TL and printed a bullish impulse followed by a flag retraced to 50-61.8% zone. The buy is executed when market broke TL of flag and H1 MACD crossed over.