EUR/AUD Long-Term Trend: Bullish
Key Resistance Levels: 1.5813, 1.5892, 1.5900
Key Support Levels: 1.5727, 1.5622, 1.5600
The price on the daily time frame is trending to the upside where it entered a big correction and the price succeeded to stay above the 1.5727 USD level. After this correction we expect further movement to the upside in the same direction of the main trend.
EUR/AUD Medium-Term Trend: Bullish
On the 1-hour time frame, the price posted an inverse head and shoulders around the daily support which led to a change in the direction of the trend. Currently the price is above the neckline of the pattern where we expect a lower correction before the move upward to the target profit.
Buy Limit Order @ 1.5756
TP 1 @ 1.5811
TP 2 @ 1.5892
Stop Loss @ 1.5731
Trade Safely 🙂