Eur-aud
EURAUD Sell signal confirmedThe EURAUD pair got a massive rejection on the 1D MA200 (orange trend-line) on July 01 and since last week, it hasn't even regained its 1D MA50 (blue trend-line) suffering a strong sell-off.
The long-term pattern is a Bearish Megaphone, technically such rejection should push the price to a new Lower Low. Based on a similar fractal last February, we can go as low as the 2.5 Fibonacci extension. We have a more moderate target on the diverging Lower Lows trend-line at just above 1.4000.
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EURAUD, The Triangle Pattern CompletedEURAUD has completed the ascending triangle this morning. We can long EUR against AUD, with a target of 1.62. The target is determined based on the triangle's height. We measure the height of a pattern and use that distance as our target.
Stop-loss should be placed below today's low. That gives us a great R:R.
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EUR/AUD short signalOANDA:EURAUD
We have the fundamentals in our favor-EUR weakening because of the war in Ukraine, and also we have the Technicals in our favor as we are in a downtrend and under the 200MA on the Daily.
The price is at this resistance level that has been tested 2times previously so we are at AOV (Area Of Value) and possible 1:3/4 RR.
EURAUD H4 Potential for bearish reversalWith price expected to reverse off the stochastics indicator, we have a bearish bias that price will drop to our take profit are where the horizontal pullback support is from our entry where the 127.2% Fibonacci extension and 78.6% Fibonacci projection is. Alternatively, price may head to our stop loss at 1.53123 in line with the 138.2% Fibonacci extension is.
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EURAUD H4 Potential for bearish reversalWith price expected to reverse off the stochastic indicator, we have a bearish bias that price will drop from entry at 1.51923 in line with the 78.6% Fibonacci projection and horizontal swing high resistance to our take profit at 1.50495 in line with the horizontal overlap support.
Alternatively, price may break structure and head for stop loss at 1.52733 where the 127.2% Fibonacci extension lines up with the 100% Fibonacci projection.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
EURAUD going for the 1D MA200 testThe EURAUD pair has been trading within a long-term Bearish Megaphone pattern but since the April 05 bottom, it has established a Channel Up on the medium-term. A similar Channel Up pattern was what took the Megaphone to its previous Lower High.
In the process, the 1D MA50 (blue trend-line) has been turned into a Support and the next technical Resistance is the 1D MA200 (orange trend-line). It would be best to trade this with a break-out approach. If the price breaks above the 1D MA200, go long and target the 0.5 Fibonacci around 1.58450. If rejected, take a long-term sell towards 1.4500 and quite possibly 1.4000 as a Lower Low.
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💡Don't miss the great sell opportunity in EURAUDTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1.4876).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURAUD is in a downtrend, and the continuation of the downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 45.
Take Profits:
TP1= @ 1.4816
TP2= @ 1.4745
TP3= @ 1.4695
TP4= @ 1.4649
TP5= @ 1.4599
SL: Break Above R2
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💡Don't miss the great sell opportunity in EURAUDTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1.4876).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURAUD is in a downtrend, and the continuation of the downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 45.
Take Profits:
TP1= @ 1.4816
TP2= @ 1.4745
TP3= @ 1.4695
TP4= @ 1.4649
TP5= @ 1.4599
SL: Break Above R2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
EURAUD VIP LONGEURAUD LONG
Why are we entering?
- We broke out of the descending trend and now in a descending correction before we are bullish
- Being held down by DAILY EMA
- Expecting AUD weakness and EUR strength
What is our confirmation?
- Break of DAILY EMA and WFB
- Bounce off our ascending trendline
- Break of possible RISK trendline
Entry
- Safe Entry: Bounce off our ascending trendline with a break of our Possible RISK trendline
- RISK Entry: Bounce off our ascending trendline
- RISK Entry 2: Early break of our possible RISK trendline or DAILY EMA
Once entered, where will our Stoploss be?
- below our structure level and trendline (1.465) 30 pips
Where do we take profits?
- Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips)
First TP: 1.496 (280pips)
Final TP: 1.532 (640pips)