Joe Gun2Head Trade - Major resistance EURAUDTrade Idea: Selling EURAUD
Reasoning: Major resistance on the daily.
Entry Level: 1.63764
Take Profit Level: 1.6226
Stop Loss: 1.6447
Risk/Reward: 2.28/1
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Eur-aud
EURAUD: Buy the pull backThe EURAUD pair is on a Double Channel Up pattern, supported by the 4H MA50 with the 4h technicals indicating a smooth uptrend (RSI = 64.590, MACD = 0.003, ADX = 25.499). The 4H RSI being under an LH trendline suggests that soon we will see a short term pullback similar to March 12th and March 30th. We are buying the contact with the 4H MA200 and aim at a 2.30% rise (TP = 1.65450).
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A SELL SETUP ON EURAUDHey Traders,
Check this analysis it on EURAUD, and let me know what you think.
The pair is at the weekly supply / resistance zone and it has been retested 3times already (that could be be a weakness or strength).
So it is very important to wait for what the market will do, since there are little to no volatility in the market since Monday, rushing into any trades right now could be a mistake or good thing.
Watch out.
Potential long swing trade for EUR/AUDEUR/AUD closed lower for five consecutive days last week during a week of volatility and turbulence. With the Fed and five other central banks announcing a coordinated effort to provide liquidity for US swaps, and UBS agreeing to purchase Credit Suisse over the weekend, perhaps there's potential for it to confirm a swing low.
Last week's low found support at the 20-day EMA, trend support and 38.2% Fibonacci ratio and the daily closes held above the monthly R1 pivot.
The bias is for a move towards 1.6100 (monthly R1 pivot) whilst prices hold above last week's low - or trend support can be used to fine-tune risk management.
Possible Sell Trade Setup On EURAUDHey Traders,
Check EURAUD out, the pair has been on a very tight uptrend after breaking above the upper band of the WEEKLY descending channel.
Now, the market got a fast rebound from the OB, and then commence a new bearish trend phase to retest the broken band or make a deeper flow below.
Additionally, the price made a complete Head and Shoulder pattern and could support the take on the bearish momentum.
The worth looking into.
EURAUDHi
EURAUD has been examined in different dimensions:
1- Strong supply and demand levels that I identify with my own indicator and system.
2- The structure of recently formed waves
3- Current market momentum
4- The structure of classical and price patterns
In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis.
In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram.
⚠️ Disclaimer:
This is a personal opinion and you are responsible for any trading decisions.
EURAUD is preferred to buy on dips.EURAUD - 24h expiry - We look to Buy at 1.5900 (stop at 1.5800)
Previous support located at 1.5900.
Previous resistance located at 1.6000.
Trend line support is located at 1.5900.
We can see no technical reason for a change of trend.
We expect a reversal in this move.
Our profit targets will be 1.6150 and 1.6200
Resistance: 1.6000 / 1.6100 / 1.6150
Support: 1.5900 / 1.5850 / 1.5800
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EA potential turning point at 1.57...get readyEither waiting for the double top to break down OR if this level which is a key area on higher timeframe holds, then likely looking for long as higher timeframe is still on the upside.
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The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
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EURAUD - Video Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
Here is a detailed update top-down analysis for EURAUD .
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
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.
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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