Euro / Australian Dollar
Long

EURAUD: Classic Bullish Pattern

544
After a breakout of a resistance line of a bullish flag pattern on a 4-hour chart, EURAUD is now undergoing a retest.

There is a strong alignment between a horizontal support level and an upward trend line, indicating a potential bullish movement in the near future.

It is likely that the pair will continue to rise, with a target set at 1.6581.

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.