EURAUD is trading within a well-defined ascending channel, with price action respecting both the upper and lower boundaries. The recent bounce off the midline suggests buyers are maintaining control, supporting a potential continuation of the uptrend.As long as the price remains above the support level and the channel's lower boundary holds, the bullish structure remains intact.
A potential upside target is 1.69500, aligning with the upper boundary of the channel. A break and close above this level could signal further bullish momentum.
However, a breakdown below the green support zone would invalidate the bullish scenario and may open the door for a deeper pullback.
Remember, always confirm your setups and trade with solid risk management.
Best of luck!
Trade closed: target reached
Take Profit Reached
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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.