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EUR/AUD Potential Downward Movement

EUR/AUD Long-Term Trend: Bearish

Key Resistance Levels: 1.4877, 1.5025, 1.5123

Key Support Levels: 1.4629, 1.4564, 1.4436

Daily Time-frame:

The price on the higher time frame was trading in a downtrend after it broke the trendline and we saw retracement in the price to the 1.5325 level. The pair is continuing again on the bearish side with full momentum.

EUR/AUD Medium-Term Trend: Bearish

1-Hour Time-frame:

On the lower time frame, the price is moving in the major trend’s direction. The price is showing a strong downtrend with occasional pullbacks. The pair should face resistance at the 1.4802 level in case of a pullback. Expect the bearish move to continue.

Signal Idea:

Sell Stop Order @ 1.4739

TP 1 @ 1.4638

TP 2 @ 1.4536

Stop Loss @ 1.4840

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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