FX:EURAUD   Euro / Australian Dollar
Looking at the 1 Hour and 4 Hour Charts. we can see a strong descending trend.

1.57700 was previously a strong Support, but has since turned into resistant level as a new higher-low has been created. Price tested the previous support and was rejected and therefore following the descending trend.

We have seen the 50 day cross over the 100 day Moving Average which reinforces the probability that the market will remain Bearish .

Our target is 1.57000 which historically has been a strong level of support. This is where we will be setting TP1 (+50 pips).

If price breaks 1.57000 we have a TP 2 set at 1.56760 (+70 pips)

Please remember to LIKE, COMMENT and FOLLOW for more trade ideas!


TP1 hit! +50pips
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About 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 Private Messages Chat Sign Out