The chart obviously shows a failure at support area (1.48700). No strong support found upon the downward trend. We expect more falls to reach the next strong support at 1.4507
Evidently, we are waiting for the pullback completion and sell at 1.486
Finally seen some better movement, got nice entry's going straight into profit at 1.56000, risk free then took out first support area with a strong 1hr candle so holding 60% of my position now with stop loss moved to entry point. Overall target I'm looking for is 1.54600!
EURAUD is trading inside following a Bearish Channel
Waiting to enter a short trade if it doesn't break above the channel.
Entry : When the price make a reversal from the upperline from the channel
Stop : 1.20%
Profit Target : 4%
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(EURUSD) Target achieved
(USDJPY) Target 1 achieved
(JPYUSD) Target...
EURAUD is expected to drop to 1st support at 1.60906 where it could potentially react off and up to 1st resistance at 1.61786.
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Losses can exceed the initial investment so please ensure you fully
understand the risks.
This pair is currently trading at a major resistance zone and price action has recently broken below a major trend line trend line (yellow) as well. We also see the completion of a harmonic Bat Pattern. These are all bearish technicals which signals a move lower and is giving our short strategy validation. FX:EURAUD
Price reached the weekly resistance along with the retest of a previous broken long trend line. In the test of the weekly resistance the price broke, again, the long trend line and is now retesting it, but is already showing some rejection bearish candles. I`m waiting for a clear bearish price action to go short!
Looking to enter short trades upon price bouncing off from resistance.
Volume is starting to weaken as price moves up indicating market exhaustion.
Another way of trading this pair is to wait for price to break below the potential Double Top Neckline.
