EurAud- genuine break?For 5 months now, EurAud is trading in a range...
However, From September the move looks constructive and in October we have a new base at a higher price.
The pair is trading now above resistance and this could be a genuine break.
I'm strongly bullish as long as the price stays above 1.65 and in the case of a real break I expect a rally to 1.7 zone
Euraudbreakout
EURAUD / LONG - Price is just rangingFrom what I can see on the daily price is just ranging in this small area however there is still an opportunity to make profit.. Price has broken its current structure and is going to retest its support zone
I am waiting for a bounce off of one of the Fibo levels then we can go long
EURAUD - SHORT / RISING WEDGEI believe my initial analysis of this pair was incorrect, upon further analysis we can see divergence on the weekly TF, as well as price, breaking the weekly trendline
If you notice we also have a rising wedge pattern which is another indication of a change in trend
We will wait for a breakout and a retest before entry on a lower TF
EURAUD BULLISH TREND CONTINUE !!!As we see price bounce back from support level and fail to break support area & still
continue to up move we entered to trade from last week and still look for good pips
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EURAUD, 4hr timeframe, buy on breakout of ranging areaEURAUD moved insde the yellow box area for 2 weeks and today we finally see a soid close above he ranging area on the 4hr timeframe.
We could see price continue moving up to next resistace at 1.6550. A solid close above it will also open the possibility to go up until 1.6700 area.
We could try buying EURAUD on the retracement or retest of this ranging area.
Buy EURAUD 1.6380
Stop loss 1.6250
Take profit 1 @1.6510
Take profit 2 @1.6640
Take profit 3 @1.6770
Good luck
EUR/AUD Technical Analysis
The counter has been confined into an asymmetrical pattern for the past few months, which depicts indecisiveness.
Now, it has made a bullish breakout from the pattern.
Further, it has formed an inverted head and shoulder pattern and broke out of the neckline.
Hence, we expect the pair to be bullish in the short-term.