EUR/AUD Potential Upward Movement
Key Resistance Levels: 1.61738, 1.63550, 1.64354.
Key Support Levels: 1.60662, 1.59377, 1.59300.
The price on the higher time frame failed to break the 1.59377 CAD level and reversed higher where a series of bullish bars has been posted. We noticed also that these bars have long wicks to the downside which shows that buyers are coming back and might push the price higher.
EUR/AUD Medium-Term Trend: Bullish
On the lower time frame, the price succeeded to break the bearish channel to the upside where also the Wyckoff accumulation phase was broken to the upside. A lower correction could be seen to the higher end of the channel before a new impulsive wave toward the target profit.
Buy Limit Order @ 1.60694
TP 1 @ 1.61702
TP 2 @ 1.63550
Stop Loss @ 1.60250
Trade Safely 🙂