EUR/AUD Technical Analysis
The counter has been confined into an asymmetrical pattern for the past few months, which depicts indecisiveness.
Now, it has made a bullish breakout from the pattern.
Further, it has formed an inverted head and shoulder pattern and broke out of the neckline.
Hence, we expect the pair to be bullish in the short-term.
Euraudidea
EURAUD long trade ideaPlan: wait for the price to bounce off from trendline or key support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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#EURAUD, Big opportunity The EURAUD is currently down by more than 2000 pips (11%), a very significant decline.
Although Stochastic is not yet cross-linked, it is found to be relatively low.
RSI warns of a possible trend reversal.
And the most interesting point is the encounter with the 200 moving average line which is a very serious support that increases the likelihood of looking Pull back.
Target: 1.6840
EURAUD short position for near termAs can be seen in the chart above, EURAUD seems to be in a strong downtrend. It seems that it will continue following the downtrend for the near term and test the support level of 1.65900, which is where I will be placing my take-profit level. We can expect to see some volatility in this pair with the upcoming news announcement in a few hours for the AUD pair (the RBA Trimmed Mean CPI QoQ and the Consumer Price Index QoQ in about 2 hours and 45 minutes from now).
EURAUD Sell/Short Trade 4% gainEURAUD is trading inside following a Bearish Channel
Waiting to enter a short trade if it doesn't break above the channel.
Entry : When the price make a reversal from the upperline from the channel
Stop : 1.20%
Profit Target : 4%
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EURAUD LONG! 60MINMarked Buy-Zone offers short-term Long opportunity trade on Strong EUR Vs Weak AUD
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Will EURAUD start to reverse?As indicated in the chart, EURAUD is finding resistance at the channel TOP. So, far the price action indicates the formation of a TOP and possibility of EURUAD to drop in the coming weeks.
Low-risk sell entries can be taken at 1.7020-1.7120 with SL above 1.7300. TPs can be placed at 1.6770, 1.6540 and 1.6230