For more than 2 months now, EurAud is trading in a range with a base on 1.61 zone and a top at 1.65.
Now the pair is approaching the low of the range and I expect a rebound from here.
I'm looking for a signal to buy in this zone for 1.64 target.
Interim resistance is at 1.6250
EURAUD price begins to accelerate higher faster than other currencies from the control price (CP). It can hit 1.63500 - 1.64060 after crossing the CP level.
Hurdle: 1.62150
This hurdle is a game-changer. It could explode downward and prices may fall 1.61850 to 1.61360 levels.
The above information is sufficient for a smart trader to start minting money.
I've taken quite a few pips out of this pair over the last 2 months and another SELLING opportunity is being flagged by my Disciplindicator Indicator.
The strong support indicated has been tested many times over the last week or so and this is weakening the line. With the incentive of WS1 pivot as a target I believe the BEARS will break through and break this...
EA short looks good here. We have seen 1 rejection from the purple box area marked showing us it is respecting the 38.2 fib level as well as the descending trend line and 50 EMA. I'm looking to take this short down to the 61.8 fib level if we see further rejection from the purple box region.
350 PIP GAIN 6/1 RR
Pair: EURAUD
Prediction: BUY / LONG
Target 1: 1.59200
Target 2: 1.60100
Confluence:
1)Break of a daily bearish trendline
2)D point reached of a harmonic bat pattern.
3)2 Bounces on the Harmonic D zone
