Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.6688). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURAUD is in a range bound and the beginning of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic...
EURAUD - Intraday - We look to Sell at 1.6616 (stop at 1.6656)
An Evening Doji Star formation has been posted at the high. Buying posted in Asia. Bespoke resistance is located at 1.6616. The previous swing high is located at 1.6626. The 50% Fibonacci retracement is located at 1.6596 from 1.6787 to 1.6406. Preferred trade is to sell into rallies.
Our profit...
After witnessing a break through on the daily/weekly bullish flag pattern we only seek to look for buy opportunities.
The break out of the bigger picture time frame was followed by a lower time frame retracement in the form of a bullish flag pattern.
Entry taken upon the third touch confirmation within the bullish flag pattern followed by a 4hr bullish engulfing...
EUR/AUD short trade that was taken because price had reached our descending trend line, also price was at a fib retracement. These are just two out of the five factors as to why we took this trade.
EURAUD - Intraday - We look to Sell at 1.6530 (stop at 1.6570)
Majority of the initial daily gains being overturned. Trades with a bearish descending triangle formation. Trend line support is located at 1.6400. Risk/Reward would be poor to call a sell from current levels. The formation has a measured move target of 1.6025. Further downside is expected although we...
The Euro vs. the Australian Dollar. This pair is considered to be a great barometer for global risk. In 2012, during the European sovereign debt crisis the EURAUD reached its low. Since then, due to the European Central Bank’s policy of Outright Monetary Transactions (OTM or the “whatever it takes” measure ) the pair has recovered substantially.
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