EUR/AUD Potential Upward Movement

EUR/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.46832, 1.47398, 1.48000.

Key Support Levels: 1.46264, 1.45717, 1.45400.

Daily Frame:

The price on the higher time frame could not continue its move to the downside and faced a strong resistance which led to the formation of the double bottom pattern in a form of a higher low. A reversal occurred and a series of lower highs and lows has been posted where further movement to the upside could be seen.

EUR/AUD Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a higher low formation. A lower correction has been posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 1.46264

Target Profit 1 @ 1.46832

Target Profit 2 @ 1.47398

Stop Loss @ 1.45698

Trade Safely 🙂