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EUR/AUD Potential Downward Movement

EUR/AUD Long-Term Trend: Bearish

Key Resistance Levels: 1.4410, 1.4469, 1.4528

Key Support Levels: 1.4278, 1.4210, 1.4169

Daily Chart:

The price on the higher time frame has been in a downtrend for the last few weeks and it is showing good momentum. Recently the pair did a pullback and faced rejection at the 1.5293 level. It has broken a level of 1.4381 and sustained below that 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 recently broke the lower range of 1.4469 after consolidating for some time. It has also broken and retested another minor level of 1.4410 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 1.4359

TP 1 @ 1.4286

TP 2 @ 1.4213

Stop Loss @ 1.4432

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.

6 comments

  1. HI, This signal hit tp 1 just now. I recently came across Patrick Ryan and love his stuff. Im beginner trader. I’d like to ask where to start from. Like which books/courses would be best for me. Thanks in advance.

  2. I am starting to learn Forex, i have not yet started but only learning. Hoping to become the great FX Trader soon. I like your service either.
    Thank you.

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