EUR/AUD Potential Upward Movement

EUR/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.58498, 1.58825, 1.59000.

Key Support Levels: 1.57431, 1.56840, 1.56032.

1-Hr Frame:

The price on the higher time frame succeeded to break the bearish trendline to the upside after the bears were trapped and this led to a reversal and a move to the upside. This uptrend can be noticed by the higher highs and lows.

EUR/AUD Medium-Term Trend: Bullish

5-Mins Time Frame:

On the lower time frame, the market succeeded to break the descending trendline to the upside after finding buyers below the 1.57425 AUD mark. Big bodied bars can be seen as well showing that the buyers are in control and might push the price again to the upside in the same direction of the main trend.

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Buy Market Order @ 1.57570

TP 1 @ 1.58476

TP 2 @ 1.58825

Stop Loss @ 1.57117

Trade Safely 🙂