EUR/AUD - The Pull Back To Value
Chart: Daily Time Frame
Market Trend (Daily): Bearish
Dominant Trend: Bearish (Daily, Weekly, Monthly)
Bearish Indicators
1. Tweezers tops rejecting 1.452 daily/resistance level
2. Price rejecting & closing below 50 EMA (dynamic resistance)
3. Price has broken support @ 1.452 and pulled back to value (Ideal short entry)
Notes:
Based purely on the technical analysis, price is likely to see 1.37 as a long term target - weekly & daily support level.
Agree / Disagree? Let me know in the comment section below!
Market Trend (Daily): Bearish
Dominant Trend: Bearish (Daily, Weekly, Monthly)
Bearish Indicators
1. Tweezers tops rejecting 1.452 daily/resistance level
2. Price rejecting & closing below 50 EMA (dynamic resistance)
3. Price has broken support @ 1.452 and pulled back to value (Ideal short entry)
Notes:
Based purely on the technical analysis, price is likely to see 1.37 as a long term target - weekly & daily support level.
Agree / Disagree? Let me know in the comment section below!
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