ForexRobotNation.com – Best Forex Robot & Expert Advisor Reviews Forex Robot, Expert Advisor EUR/AUD Long-Term Trend: Bearish
Key Resistance Levels: 1.4699, 1.4795, 1.4912
Key Support Levels: 1.4602, 1.4550, 1.4482
Daily Chart:
The price on the higher time frame has been in a downtrend for months and recently it did a pullback. The pair faced resistance at the 1.5293 level and reversed from there. A trendline and a minor support level of 1.4769 has been broken which indicates a bearish bias.
EUR/AUD Medium-Term Trend: Bearish
1-Hour Chart:
On the lower time frame, the pair is moving in the major trend’s direction. The price has been trading between a range of 1.4913 and 1.4796 for some time and the lower range was broken. A minor level of 1.4699 has been broken and retested before continuing the momentum.
Signal Idea:
Sell Stop Order @ 1.4666
TP 1 @ 1.4607
TP 2 @ 1.4489
Stop Loss @ 1.4725
Trade Safely 🙂
Hi EurAud, I booked TP1, can I take entry at tp1 with SL at entry and TP2 as target.
Please don’t mind, I am sweating at AudCad trade, the upmove yesterday was 50 percent retracment on Daily chart, of bear candle. And I actually wanted to take short trade.
Thanks and regards
Hi, I wouldn’t recommend a new trade in EURAUD at this point. If you had taken a position for TP2 initially then best to make it risk free and wait for TP2. And I agree on AUDCAD, AU is not showing strength we’ll see.