Breaking News

EUR/AUD Potential Upward Movement

EUR/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.5891, 1.5936, 1.6000

Key Support Levels: 1.5832, 1.5772, 1.5724

Daily Chart:

The price is trending to the upside by posting higher highs and lows. A correction count is being build in a form of an expanding wedge. The price managed to break the strong resistance around the 1.5832 USD mark which could lead to a further movement to the upside in the same direction of the main trend.

EUR/AUD Medium-Term Trend: Bullish

1-Hour Chart:

On the 1-hour time frame, the price found buyers around the 61.80% Fibonacci retracement level and succeeded to move to the upside. A lower correction could be seen before a rally all the way up toward the target profit.

Signal Idea:

Buy Limit Order @ 1.5845

TP 1 @ 1.5890

TP 2 @ 1.5936

Stop Loss @ 1.5823

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.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!

Free Robot!