EURAUD, Further Continuation Onward After Second Confirmation!

Hello Traders Investors And Community, welcome to this analysis about recent events, the current price-structure and what we can anticipate from EURAUD the next times. In my research I discovered some fundamental important signs within EURAUD which will determine the outcomes of EURAUD further. As the world economy is slowly starting to grow again after the lockdowns this has an important impact on worldwide currencies and the forex-markets with high volatility which we currently experiencing, some people calling the euro should rotten and the states should keep their own currencies like before, if this is a good option we can not say at the moment but smart investors and traders should make their own personal standpoint in the markets and decide their market-approach on the best possible information at hand, therefore, we are looking at the 4-hour chart of EURAUD.

As you can see in my chart, EURAUD has broken a major declining trendline to the upside which is marked with the blue lines in my chart. So breakdown happened with high volatility and increased volume, therefore, the bearish scenario has confirmed firstly with this significant move to the downside. Currently, it seems that the price is stabilizing between the 1.065 and 1.635 range and forming some upmoves, but at the moment these upmoves are rather weak than really solid bullish moves and furthermore EURAUD is trading below meaningful resistance levels. First of all it is the the 60-EMA which you see marked in black and secondly, it is the 100-EMA marked in orange, together with the falling trendline these levels building a coherent resistance-cluster which will highly likely confirm bearish when touched in this level.

When the bearish resistance-cluster has confirmed as it is the highest possible scenario right now, the both targets you can see in my chart are activated. First of all when we reach the short-term-target and do not get any purposeful reversal here the further downside will be confirmed, after this, the middle-term-target is reached and when this has completed we need to examine the situation again and look for more signs within the information the market has gave us. This trade can be opened conservative or aggressive, the aggressive approach will be to enter the trade immediately in the current range and the conservative approach will be to wait after the falling blue trendline you can see in my chart has confirmed properly, traders should decide according to individual risk preferences and the market approach.

In this manner, thank you for watching, support for more market insight and have a good weekend.

Information provided is only educational and should not be used to take action in the markets.

Comment:

ANALYSIS UPDATE: EURAUD formed the bearish pullbacks in the range to continue into the bearish trend direction.

EURAUD after confirming the bearish trend directions reached the final bearish target zones.