EURAUD - 30M - Bullish Trend Continuation Strategy
Technical Analysis: EURAUD is in a strong bullish trend, moving within a bullish channel and respecting the channel boundaries. The pair consistently closes candles inside the channel, confirming the continuation of the trend. On the 30-minute timeframe, a bullish divergence further supports upward momentum. The pair is printing higher highs (HH) and higher lows (HL), making the 0.5 Fibonacci retracement level an ideal entry point for a long position.
Seasonality: According to seasonal trends, EURAUD is typically bullish until the first week of October, aligning with the current technical outlook.
Entry Strategy:
BUY LIMIT: Buy at 1.63939 at the 0.5 Fibonacci retracement level.
Stop Loss: Set at 1.63545, below the last higher low to protect against potential reversals.
Take Profit 1: First profit target at 1.64334.
Take Profit 2: Second target at 1.64728 for further gains.
Take Profit 3: Third target at 1.65121 for maximum profit.
This trade setup leverages both technical signals and seasonality, aiming to capitalize on the bullish trend continuation in EURAUD, with well-defined risk management and profit-taking levels.
Seasonality: According to seasonal trends, EURAUD is typically bullish until the first week of October, aligning with the current technical outlook.
Entry Strategy:
BUY LIMIT: Buy at 1.63939 at the 0.5 Fibonacci retracement level.
Stop Loss: Set at 1.63545, below the last higher low to protect against potential reversals.
Take Profit 1: First profit target at 1.64334.
Take Profit 2: Second target at 1.64728 for further gains.
Take Profit 3: Third target at 1.65121 for maximum profit.
This trade setup leverages both technical signals and seasonality, aiming to capitalize on the bullish trend continuation in EURAUD, with well-defined risk management and profit-taking levels.
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.