EURAUD (Euro/Australian Dollar) Currencies Analysis 04/06/2021
Updated
we have earlier analyzed this currency Pair and have already achieved the First target of our Past Analysis:
Technical Analysis:
We draw the Fibonacci retracement from the high to low of the bearish cycle in monthly timeframe and defined the levels.
What we think that there are two scenarios.
First: EURAUD is consolidating and accumulating above monthly 38.2% Fib retracement therefore it continues its uptrend movement 61.8% and 78% monthly Fib retracement.
where we have defined the Targets and they are 1 to 3 TPS consequently.
Second: the price might fall and goes to some down swing which we have defined the targets by the Fibonacci Expansions
but we are mainly bullish on the Pair
Technical Analysis:
We draw the Fibonacci retracement from the high to low of the bearish cycle in monthly timeframe and defined the levels.
What we think that there are two scenarios.
First: EURAUD is consolidating and accumulating above monthly 38.2% Fib retracement therefore it continues its uptrend movement 61.8% and 78% monthly Fib retracement.
where we have defined the Targets and they are 1 to 3 TPS consequently.
Second: the price might fall and goes to some down swing which we have defined the targets by the Fibonacci Expansions
but we are mainly bullish on the Pair
Trade closed: target reached
1 TP achievedTrade active
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