EURAUD broke out of resistance, further potential rise!
Updated
EURUAD broke out of short term descending resistance-turned-support line and is approaching our first support at 1.5959 (horizontal pullback support, 23.6%, 38.2% Fibonacci retracement). A strong bounce could occur above this level, pushing price up to our major resistance at 1.6123 (horizontal swing high resistance, 78.6% Fibonacci retracement, 61.8%, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
RSI is also seeing a bullish exit and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI is also seeing a bullish exit and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trade closed: target reached
Wohooooo perfect rally up to our profit target! Did you manage to get on this one?
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