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Euraudbearish

EURAUD testing major support, prepare for a potential bounce!EURAUD is testing major support at 1.5772 (long term ascending support line, Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur at this level pushing price all the way up to major resistance at 1.6137 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance). We identified second support at 1.5632 which is right below major 50% retracement and swing low support). Stochastic (55,5,3) is seeing major support above 2.6% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
EURAUD testing channel resistance!Price is testing major descending resistance at 1.5419 (bearish channel resistance, horizontal overlap resistance, 61.8% Fibonacci retracement) and a strong drop could possibly occur at this level to push price down towards 1.5285 support (Fibonacci extension, horizontal swing low support). Our next major level of resistance is at 1.5478 (78.6% Fibonacci retracement, horizontal break out resistance level). Stochastic (34,5,3) is seeing major resistance below 96% where a corresponding drop could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
Euro's reliefThrough my previous analysis, I've shown you several short setups for the Euro currency. These includes EURGBP, EURUSD, EURJPY, and now, EURAUD! For several days, the Euro-Aussie pair has tested the resistance several times -- and failed -- leading to a descend on prices. In addition to this, a possible fakey signal has been formed. Fakey bar occurs only after a formation of inside bar where when the price action bar produces a pin bar that pushes through the inside bar's high/low. After the formation of the fakey, another inside bar formed again. Look out!
Short
by bearvsbullmarket
EURAUD: Bearish Patterns Emerge Below 1.4180The EURAUD is in the process of carving out an ascending channel on the 4-hour time frame. It’s the result of the 280 pip rally that began in the final session of March. Although the pair climbed to a high of 1.4216 yesterday, sellers were out in force above the 1.4180 handle. The selling pressure formed a 4-hour bearish pin bar, hinting at a substantial depth of offers in this area. To confirm lower prices are likely over the coming sessions, a close below channel support is preferred. Such a close would expose the trend line that extends from the March 20th low at 1.3872. From a broader perspective, the technical landscape since early March seems to indicate a head and shoulders pattern. While I don’t personally trade these patterns on anything below the daily time frame, the structure could still signal that lower prices are likely. From here, I’ll wait for channel support to break on a 4-hour closing basis before considering an entry. At the moment that level comes in near 1.4120. A close below it would expose trend line support near 1.4020 and possibly the 1.3890 handle. Alternatively, a 4-hour close above 1.4180 would make the chart a bit harder to read. It wouldn’t negate the ascending channel, but it would cause me to doubt the potential for an immediate move lower from current levels.
Short
by Daily-Price-Action