OnlyAnalysis
Short

EUR/AUD Short - 310 PIP TARGET

FX:EURAUD   Euro / Australian Dollar
Here is a technical Analysis for EUR/AUD on the 4hr. Overall on the daily and weekly chart the momentum has been towards the bulls however due to the volatility of this pip we are possible to also make gains on the bears of this market. Above the 1.62100 Dynamic Support and Resistance we have a head and shoulders formation. This is a signal that we could possibly be seeing a bearish movement in the market. A confirmation for this is the second shoulders is slightly lower than the first. Not only this but we also had an inside bullish trend line which has been retested above the S/R. In order to enter a Short here we are looking for a break of the dynamic support and resistance and a retest which will be our main entry point. from here we will be setting a 35 pip S/L above the S/R to limit the risk of losses in case this is a fake out. Finally our Targets for this trade are as follows:
TP1: 1.61300
TP2: 1.60500
TP3: 1.59000

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out