The market is clearly in a bearish trend. FX:EURAUD fell from the resistance zone and broke through the range zone as well. The price has been updating lower lows. Note that it broke the key level at 1.64000. And I think the market might form a small pullback and continue moving downward. As I always say, the consolidation/range zones act as support and...
1. PSTG 1 was hit
2. PSTG 2 was hit
3. 100% Retest zone was respected
4. SST level approved
now we wait for the market to give us a nice structure to work with now that BULL have 78% power over the bears, getting ready to take buys.
This is my bearish trend idea. However, wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck
EURAUD after moving in downward channel has broken out of the channel after forming a double bottom structure which indicates bullish reversal. We will wait for our trigger before taking our long position in this pair.
Hello,Traders!
EUR-AUD went down and
Retested the rising support
Just as I expected and now
We are already seeing a
Bullish rebound so I think
That we will see a further
Move up from support
Buy!
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Hello TradingView Family / Fellow Traders,
On Daily: Left Chart
EURAUD has been hovering within a big range between our blue support and red resistance.
Currently, EURAUD is approaching the lower bound of the range, so we will be looking for buy setups on lower timeframes.
On 1H: Right Chart
📈 For the bulls to take over, we need a momentum candle close...
EUR/AUD is rising towards a resistance level which is an overlap resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.65020
Why we like it:
There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement
Stop loss: 1.65572
Why we like it:
There is a pullback resistance...
EURAUD has turned marginally bearish on its 1D technical outlook (RSI = 44.934, MACD = 0.000, ADX = 23.651) and dropped under the 1D MA50 and 1D MA200. This happened at the top of the Channel Down. We turn bearish, aiming at a symmetric LH wave of -4.31% (TP = 1.60250).
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EURAUD tested a solid rising trend line on a daily time frame this morning.
After its test, the price formed an ascending triangle formation
and successfully violated its neckline.
I think that the pair may start growing now.
Initial target - 1.6483
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