EURAUD Local S/R| Swing High| 200 MA| Price Action
Evening Traders,
Today’s analysis – EURAUD- trading above Local S/R where a back test is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support (.382 Fibonacci Confluence)
- Swing High Objective
- 200 MA Resistance
- RSI Bullish Control Zone
EURAUD’s immediate price action is impulsive above Local S/R, a bullish retest of this level is likely due to technical confluence with the .382 Fibonacci, this allows for a bullish bias.
Swing High is current objective, this will also take out 200 MA, increasing the probability of testing upper Local S/R.
The RSI is trading in its respected bullish control zone, remaining in these levels is critical in order to maintain strength in the market.
Overall, in my opinion, EURAUD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“Sheer will and determination is no substitute for something that actually works.” – Jason Klatt
Today’s analysis – EURAUD- trading above Local S/R where a back test is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support (.382 Fibonacci Confluence)
- Swing High Objective
- 200 MA Resistance
- RSI Bullish Control Zone
EURAUD’s immediate price action is impulsive above Local S/R, a bullish retest of this level is likely due to technical confluence with the .382 Fibonacci, this allows for a bullish bias.
Swing High is current objective, this will also take out 200 MA, increasing the probability of testing upper Local S/R.
The RSI is trading in its respected bullish control zone, remaining in these levels is critical in order to maintain strength in the market.
Overall, in my opinion, EURAUD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“Sheer will and determination is no substitute for something that actually works.” – Jason Klatt
Join my free telegram! t.me/chartdoctorsanconsultants
Follow me on Twitter! twitter.com/pinkdawn__
Follow me on Twitter! twitter.com/pinkdawn__
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.