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Euraudbuy

EURAUD LongThe AUD has been taking the EUR for a ride since March 2020 with little chances for the bulls. On the daily time frame we have a downward trend line starting from April which has just been broken and retested. On the same daily we also have something like a double bottom as price has been trading within this range for about 8 weeks. With such a base been built it's obvious the bears are retreating and the bulls are about to take control. Back to the 4 hour we have seen price create a higher high and a recent higher low which completes an A B C, we are now looking for a D target which would be a -61.8 Fibonacci extension level off the most recent bullish move. On the daily that would be a 23.6 off the drop that started from march 2020. Stops are below the recent 4hr higher low
Long
by mariobillz7
EURAUD BUY POSITION===== MARKET OUTLOOK ===== EUR - BULLISH 1️⃣ Euro remained well supported by the latest optimism over a landmark agreement on the EU's €750 billion pandemic recovery fund – aimed at aiding the region’s worst-hit economies. 2️⃣ German Business Climate came in on the strong side in July. 3️⃣ German Q2 GDP should be better due to spending recoveries. AUD - BEARISH 1️⃣ Australia added a near record 532 cases on Monday, with the president of the Victorian branch of the Australian Medical Association Julian Rait calling stage-four lockdown restrictions. 2️⃣ Dropped in consumer inflation expectations in Q2 will affect Australia's CPI data tomorrow. ===== TECHNICAL ===== 📊 We buy #EURAUD on SMA50 area. 📊 EURAUD in bullish zone. ===== MONEY MANAGEMENT ===== 💵 Please use only 1-2% risk per trade or you can use recommended lot in pinned message.
Long
by MonsunAsia
1
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
Long
by HayatoDragonFX
EURAUD still in major ascending channelPurple rectangles = minor s/r area purple line = minor trendline euraud swings 4-5% (700-850 pips) within a month My BUY ZONE entry: 1.6200 TO 1.6275 My TAKE PROFIT AREA: 1.6915 to 1.6990 patience is key. I want to see this happen by july 27th . one month away Distance between the 2 area 640 pips Stop loss should be no bigger than 213 pips or around 1.6000 which is major price why? Reward to risk 640 / 213 = reward 3x your risk for example if you risk 3% to make 12% every time you place a trade. You can essentially lose more trades than you win and still remain profitable trader.
Long
by maliekevans