AlbionTrader

EURAUD to break support?

FX:EURAUD   Euro / Australian Dollar
Another pair that closed on the verge of either a bounce or a support/resistance break.

EURAUD             stopped on Friday at 1.41748 with a very short body that suggest a price confirmation in the area that has been a support quite a few times in the last quarter.
If the EUR appreciates, there is still a soft level to consider at 1.41328 so for the moment the Risk-Reward-Ratio is not in our favour, especially considering that a bounce is far from improbable.

A price confirmation down that soft level would instead lead the way to 1.40560 (as from a former support seen on the weekly) with a SL just above the current 1.41748 level.

Conversely, in case of bounce, a conservative TP could be 1.44050 but this needs to be confirmed by what we see in the chart.

EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out