Technician

EURAUD: Starting to improve? one more step..

FX:EURAUD   Euro / Australian Dollar
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13
EURAUD is showing strong signs of bottoming, as price has broken the first tier falling trend line shown on chart, however the bullish breakout and reversal has not been confirmed yet in my view, I would like to see a break with a daily closing above 1.4565 key static resistance to initiate a long position, targeting the main falling trend line for the overall bearish trend as a first upside target.

So this is a conditional bullish trade, and thus I will be updating with the trade if i have the opportunity to do so. Thanks for reading, and good luck, as always waiting for your comments and suggestions.

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Comments

thanks for sharing
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Technician manijeh.kazemi.33
You're very welcome .
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excellent support and resistance analysis there!
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Beautiful chart! What do you think about this scenario?


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Cheers, Hamza
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Technician HamzaLeith
Hello friend, actually for me, i don't try to forecast, that's why my trades are based on confirmations triggers,. I also do not use Elliott in a fundamental way. Wish you the best
+1 Reply
HamzaLeith Technician
Thank you, the best to you too!
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