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EUR/AUD Potential Upward Movement

EUR/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.58926, 1.59670, 1.59938.

Key Support Levels: 1.58011, 1.57386, 1.56668.

Daily Time Frame:

The price on the higher time frame found support around the area of confluence made of a strong support and the trendline support (dotted line). the market showed an end of the correction and it might to the upside in the coming days.

EUR/AUD Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the price succeeded to break the bearish channel after leaving a throw over at the lower end of the channel. This indicates that the downtrend is exhausted and the buyers might took control of the price action and this could lead to a move to the upside.

Signal Idea:

Buy Limit Order @ 1.58007

TP 1 @ 1.58718

TP 2 @ 1.58926

Stop Loss @ 1.57653

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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