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EUR/AUD Potential Upward Movement

EUR/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.58075, 1.58365, 1.58546.

Key Support Levels: 1.57415, 1.56950, 1.56830.

1-Hr Time Frame:

The price on the higher time frame succeeded to break the bearish channel to the upside where a consolidation period has been left below the strong support zone. We have see a big bullish bodied bar above the bespoke support with a long wick to the downside signaling that the buyers are about to push the price higher.

EUR/AUD Medium-Term Trend: Bullish

15-Mins Time Frame:

On the lower time frame, the price as well succeeded to break the bearish channel to the upside after finding buyers near the 50% Fibonacci retracement level. a lower correction could be seen before a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 1.57417

TP 1 @ 1.57983

TP 2 @ 1.58365

Stop Loss @ 1.57135

Trade Safely 🙂

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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