Hy dear Members hope you all are enjoying our ideas and Analysis. Now we are here to discuss about EURUSD. EURUSD is at a strong support level that is a trend line it has maximum Chances that it will Cross this. And after that it can touch the Price level 1.19
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Tight order block holding beneath the so-called 'structure' trapped retail and wiped them out.
We missed the order block entry over the Asian session so we entered this morning off of the re-test.
We are now riding this position comfortably to the upside looking at 5R.
#EURAUD 20 04 2021
In October 2020, the price touched the resistance line at 1.677. This is a very strong line - the border of the main trend formed in July 2013. After touching the resistance level , the price fell and formed a downtrend. In March of this year, the price touched the support zone 1.527, started to rise and broke through the trend line 1.543....
Although the direction is unclear, we can still profit from the assumption that there is liquidity below the support created. I will be looking for a sell signal on the lower timeframes to get involved.
. There is a possibility of temporary retracement to suggested support line (1.664). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EURAUD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
EURAUD on the H4 time frame, is showing clear signs of rejection of a key reversal zone.
We also have MACD Divergence.
With me previous analysis for a bullish AUD, I have a bearish expectation for EURAUD for the rest of the week.
For technical analysis:
Please review the notes below
Pair in very strong resistance areas represented:
1 - historical resistance represented by the levels of the Maori Math
2. Very strong buying signals at resistance levels in Stochastic, RSI and CCI
3. Very strong resistance levels with Fibonacci levels at 61.8-78.2 coming from top to bottom
4 - opportunity to...
The difference a week makes. Last week this pair looked quite strongly BULLISH but 1.3923 now looks to be a significant level. On the H4 charts the 200 and 100 sma meet at 1.3923.
Unless EUR/AUD can rise above and hold above this level then the picture looks BEARISH.
A break and hold above this level and the picture turns BULLISH.
Look to SELL if...