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Euro / Australian Dollar
Long

EURAUD: Bullish Setup Explained 🇪🇺🇦🇺

By VasilyTrader
snapshot

After setting a new higher, EURAUD retraced to a peculiar zone of confluence:
we see a perfect match between a horizontal structure and fib.retracements of the last two bullish impulses.

Respecting the underlined zone the price formed a double bottom formation and then broke its neckline to the upside.

I believe that EURAUD will bounce soon.

Target - 1.525

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australiandollarDouble Top or BottomEURAUDeuroFibonacciForexSupport and ResistanceTechnical Analysistradertrading
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