FX:EURAUD My Prediction Need another one or two candles on the support level for long trade
ON THE WEEKLY CHART, PRICE BROKE OUT FROM THE ASCENDING WEDGE AND IS CURRENTLY DOING A PULLBACK FOR THE BIG MOVE ON THE DAILY PRICE BROKE OUT OF THE ASCENDING WEDGE (WHICH IS THE PULL BACK ON THE WEEKLY) AND HAS GONE INTO CONSOLIDATION i AM EXPECTING PRICE TO BREAK OUT OF THE BOX AND THEN i WILL SHORT THIS PAIR. MY EYES ARE ON THE 1.5700 AREA.
Hi Traders ! just keep it simple . lets ride .
Use well the Trading Plan
At the moment we have this pair ranging after it's trend line breakout on Friday creating uncertainty whether it will return to the downside or not. Patience patience patience, let it breakout to either side of the box THEN enter!
Eur/Aud - Weekly chart - I see a break of trend structure on weekly chart so I am expecting bullish moves from this pair now. Looks like we may have created a higher low on weekly chart. great risk to reward.
For the previous days, the EURAUD pair has been continuously consolidating few pips above the support-now-resistance area. Due to the unwillingness of the bulls to fight on, it was hugely followed by a series of bear attacks. This of course, after another formation of inside bar, has made me point out to enter a short position for a quick trade.
We have a buy signal generated on EURAUD supported by our technical analysis. Incase of a pullback, we expect a retest of the daily support and a rally to top.
Looking for some downside here in the EURAUD since it has made its way to the channel upper trend line. The time to consider short trades is at this point with a target of the channel lower trend line.
If this demand level still have buyers, no supply on a way to 1.425
EURAUD Trade Setup (Short after reached target Long)
Hello traders! Hope everyone is having a great trading week. This is a very short term trade setup that I can see forming - as you can see an expanded triangle is currently in the process to complete to make new highs. Lets see how this forms :)