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EUR/AUD Potential Downward Movement

EUR/AUD Long-Term Trend: Bearish

Key Resistance Levels: 1.4854, 1.4940, 1.5033

Key Support Levels: 1.4597, 1.4492, 1.4417

Daily Time-frame:

The price on the higher time frame has been in a downtrend for weeks and we saw a pullback and then a continuation of the trend. We see the price did another pullback to the 1.4940 level and the pair continued a downtrend after facing rejection from the top.

EUR/AUD Medium-Term Trend: Bearish

1-Hour Time-frame:

In the lower time frame, the price is moving in the major trend direction. The pair is moving in a lower-low, lower-high pattern and it has faced resistance at the 1.4760 level. We see that the price first broke down and retested that resistance level before continuing the momentum.

Signal Idea:

Sell Stop Order @ 1.4688

TP 1 @ 1.4605

TP 2 @ 1.4522

Stop Loss @ 1.4771

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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