EURAUD approaching support, potential for a bounce!
EURAUD is expected to drop to 1st support at 1.60393 where it could potentially react off and up to 1st resistance at 1.62153.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Euraudbreakout
FURTHER SELLING POTENTIAL ON EURAUD EURUAD is showing potential to continue moving bearish. I have marked up potential areas of support and resistance where price may retrace from to move toward our entry point before moving towards our take profit 1 and 2.
Ideally, should price move in our favour, you want to scale out 80% of your position at take profit 1 and let the 20% ride risk free to take profit 2.
Leave any questions or comments down below :)
EURAUD Market Outlook | Daily Forex Market BreakdownEURAUD
EA practically stuck on the trend line still. You may have heard me mention that you have to be extra cautious taking trades around trend lines because there is a lot of indecision in the market which leads to confusion. So for the time being I am going to step aside and let EA do its thing.
EURAUD Market Outlook | Daily Forex Market BreakdownEURAUD
Pushing back up a bit, bit choppy today as it has been all week. Expecting possible AUD strength right around the corner. I feel EA is going to push up and test highs before completely rolling over to the downside. Great short opportunity developing.
EURAUD Sell opportunittyAfter forming a long range right below the monthly PRZ we can see how price created a nice support at the 1.6200 area that also lines up with the 38% and the 61% but this week we finally saw how it broke and clsoe right below it forming a new low so right now i mexpecting a drop to the 1.6070 area maybe the 1.6000 area