EUR/AUD Long-Term Trend: Bullish
Key Resistance Levels: 1.57226, 1.58053, 1.59000.
Key Support Levels: 1.54661, 1.53662, 1.53000.
Daily Time Frame:
The price on the higher time frame found support around the 1.54710 AUD mark where it reversed and managed to break the bearish channel to the upside. We can see that the market posted the 1st leg up and then a correction. We expect to see a new impulsive wave with a 2nd leg up.
EUR/AUD Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the price is traded inside a bullish flag formation where it posted a higher low inside the flag. This expected to move the price to the upside. But before this move a lower correction could be seen.
Buy Limit Order @ 1.55690
TP 1 @ 1.56671
TP 2 @ 1.57226
Stop Loss @ 1.55282
Trade Safely 🙂