📈 Bullish Momentum Unleashed! 📈
🧠 Technical Breakdown: EUR/AUD has just broken out of a Descending Triangle pattern on the 4H chart — a classic bullish signal! After consolidating with a flat support at 1.7999 and a descending resistance trendline, the price has surged above 1.7700 confirming the breakout. Buyers are stepping in strong, and this setup is primed for a solid upward move!
📍 Key Insights:
◾ Pattern: Descending Triangle — bullish breakout confirmed.
◾ Breakout Triggered: Price broke above the descending trendline at 1.7955.
◾ Flat Support: 1.7750 level held firm, acting as a launchpad for bulls.
◾ Target Zone: 1.8650 — next major resistance area based on prior highs.
🎯 Trade Setup:
🔴 Entry: 1.7999 (on breakout confirmation)
🟢 Stop Loss: 1.7300 (below the flat support for safety)
🎯 Target: 1.8650 — key resistance and take-profit zone
⚠ Pro Tip: Watch for a potential retest of the breakout level around 1.7955 as support before the next leg up — stay patient to avoid fakeouts!
🔥 Final Thoughts: EUR/AUD is showing strong bullish momentum after this Descending Triangle breakout! With buyers in control, we’re targeting 1.8650 for a solid gain. Let’s ride this wave and secure those pips — trade smart and manage your risk! 💥
🧠 Technical Breakdown: EUR/AUD has just broken out of a Descending Triangle pattern on the 4H chart — a classic bullish signal! After consolidating with a flat support at 1.7999 and a descending resistance trendline, the price has surged above 1.7700 confirming the breakout. Buyers are stepping in strong, and this setup is primed for a solid upward move!
📍 Key Insights:
◾ Pattern: Descending Triangle — bullish breakout confirmed.
◾ Breakout Triggered: Price broke above the descending trendline at 1.7955.
◾ Flat Support: 1.7750 level held firm, acting as a launchpad for bulls.
◾ Target Zone: 1.8650 — next major resistance area based on prior highs.
🎯 Trade Setup:
🔴 Entry: 1.7999 (on breakout confirmation)
🟢 Stop Loss: 1.7300 (below the flat support for safety)
🎯 Target: 1.8650 — key resistance and take-profit zone
⚠ Pro Tip: Watch for a potential retest of the breakout level around 1.7955 as support before the next leg up — stay patient to avoid fakeouts!
🔥 Final Thoughts: EUR/AUD is showing strong bullish momentum after this Descending Triangle breakout! With buyers in control, we’re targeting 1.8650 for a solid gain. Let’s ride this wave and secure those pips — trade smart and manage your risk! 💥
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.