EUR/AUD-Daily overview
Hello everyone!
-On a daily time frame we can see that the price reached a strong support area, we can see that the price tested and rejected that area so we can see that the bears have lost selling pressure so we may expect that bulls are going to gain some power to push in the upside.
-We can see that the Stochastic indicator is showing us an oversold area and that is a solid sign that we can expect some bullish momentum.
-If the price gains some bullish momentum, I expect that the price is going to reach the first resistance area and then we can expect a breakout or test and rejection on that area and then continuation in a bearish direction.
-Before taking action in Forex, please check the economic calendar and currency strength meter.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
-On a daily time frame we can see that the price reached a strong support area, we can see that the price tested and rejected that area so we can see that the bears have lost selling pressure so we may expect that bulls are going to gain some power to push in the upside.
-We can see that the Stochastic indicator is showing us an oversold area and that is a solid sign that we can expect some bullish momentum.
-If the price gains some bullish momentum, I expect that the price is going to reach the first resistance area and then we can expect a breakout or test and rejection on that area and then continuation in a bearish direction.
-Before taking action in Forex, please check the economic calendar and currency strength meter.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
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