EURAUD:A new trend is born?Hey Traders, Commodities are showing some outperformance signs.. and this is due to indices bullish bias at first place that correlates positively with the Aussie and the New Zealand Dollar. Technically we have noticed a breakout of the uptrend so i will be watching a potential retrace the next week around 1.571 zone.
Feel free to ask any question in the comment section.
Trade safe, Joe.
Eur-aud
EURAUD looking up 🦐On the 4-hour chart of EURAUD , we can see that the price has been in a descending trend until it tested the weekly support level . After hitting this level, the price started to move in a potential bullish direction with a series of equal highs and higher lows. This is a good sign of a potential trend reversal.
The price is currently trading below the resistance level at 1.56200, which has acted as a strong barrier for the past few days. If the price manages to break above this resistance level , it could be a signal of a potential long order. The next resistance level to watch out for would be around 1.57000.
Therefore, based on the current price action and technical analysis , we can consider a long order if the price breaks above the resistance level at 1.5620o and the MTB strategy will be satisfied. However, it's important to keep an eye on the price action and adjust the trading strategy accordingly as the market can be unpredictable.
Bearish outlook on EURAUDThe EURUD is currently retesting the daily supply zone making it the first time in over 1 month to retest that area.
Technically, i am expecting some fight at that zone from the buyers trying to push it a bit higher, but above that is the 2023 All-time high (Weekly Supply zone - OB).
So, you can positing yourself ahead of the fall coming in hot, sooner than later.
EURAUD to find support at next support?EURAUD - 24h expiry - We look to Buy at 1.5350 (stop at 1.5250)
Previous support located at 1.5350.
Previous resistance located at 1.5500.
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.5500 will confirm the bullish momentum.
Our profit targets will be 1.5600 and 1.5650
Resistance: 1.5500 / 1.5600 / 1.5650
Support: 1.5350 / 1.5300 / 1.5250
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EURAUD Potential for Bullish Rise towards previous swing highLooking at the H4 chart, my overall bias for EURAUD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for a pullback buy entry at 1.54488, where the overlap support is. Stop loss will be at 1.53332, where the recent swing low is. Take profit will be at 1.57508, where the previous swing high is.
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EURAUD Potential for Bullish Continuation | 7th February 2023Looking at the H4 chart, my overall bias for EURAUD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for a pullback buy entry at 1.54488, where the overlap support is. Stop loss will be at 1.53332, where the recent swing low is. Take profit will be at 1.57508, where the previous swing high is.
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A further Bullish run for EUR/AUDI am anticipating for a retest of the broken intraday resistance zone that NFP broke last Friday, and should be used a s new demand are for further bullish run on EURAUD.
The 14-period RSI is above 73.3 overbought level.
It is very normal for a systemic pullback that can help late entry traders to join the bullish run and target the previous OB waiting at 1.5725.
Might have somemore upside to 1.57?As per discussed before start of last week, euraud hit a key Support and bounced up strongly last week.
Can it go higher to test 1.57 zone again?Let's See.
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RLinda ! EURAUD-> Continuation of the fall from resistance EURAUD has been in a strong downtrend for quite a long time.
The price is forming a technical pullback from the limit support zone 1.52800. The resistance zone is of key importance against the backdrop of the downtrend. Earlier, after the upward shakeout, the price returned to the range again and we can say that there are no prerequisites for the price to exit the channel yet.
I believe that in the nearest future the price will test the resistance area of the downtrend and will continue its fall to 1.528.
Regards R.Linda!
Joe Gun2Head Trade - Major support on the daily EURAUDTrade Idea: Buying EURAUD
Reasoning: Major support on the daily, ending wedge on the 60min
Entry Level: 1.5324
Take Profit Level: 1.5520
Stop Loss : 1.5260
Risk/Reward: 3.02:1
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Buying EURAUD at previous resistance.EURAUD - 24h expiry - We look to Buy at 1.5620 (stop at 1.5550)
Previous support located at 1.5600.
Previous resistance located at 1.5700.
There is no indication that the rally is coming to an end.
Risk/Reward would be poor to call a buy from current levels.
A move through 1.5600 will confirm the bullish momentum.
Our profit targets will be 1.5800 and 1.5850
Resistance: 1.5700 / 1.5800 / 1.5850
Support: 1.5600 / 1.5550 / 1.5500
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). 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 Signal Centre.
EURAUD Bullish long-term. Bearish below 1D MA200.The EURUAD pair made a big bullish break-out in late December as it broke above the Bearish Megaphone structure that it has bene trading in since late 2020. The past 3 weeks however have been marked by a retrace, even below the 1D MA50 (blue trend-line) which was the Support before.
Potentially a new Channel Up may be dictating the new bullish trend and that was the formation of the new Higher Lows, so as long as it holds, we are bullish targeting 1.6000 and then 1.62350 (bottom of the long-term Resistance Zone).
We will open long-term sells only if the price breaks below the 1D MA200 (orange trend-line). In that case, 1.4800 will be the first target.
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