I posted a Daily Chart Analysis last week on EUR/AUD and the scenario is working out perfectly for now. Looking at the 1H chart, EUR/AUD finished 4 waves up and what's beautiful in this setup is the triangle (wave 4). For now, we are waiting for wave E in the triangle to form in order to enter a buy position to target wave 5 as our first target (1.5652). Breaking 1.5652 will push EUR/AUD to target the start of the big descending channel that you can see on the Daily Chart (Look at my previous analysis).
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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.