Euraudforecast
EURAUD Short Trade Opportunity... Full analysis on screenPrice is up against some heavy resistance @1.63 and we can also see that Bearish momentum is increasing so I guess we will see a further decline in Price in the next few days. Crucial is a break of the trend line on the other hand if there is a break of the counter trend line I will close the trade manually. I hope my on screen analysis is clear but if not feel free to ask me in the comments below.
EURAUD CLOSE ABOVE 1.64250 CAN PROVIDE LONGS TO 1.66900 An ideal entry is a break and close above 1.64250. We can see that price has created support at previous resistance 1.63200. We have also broke outside of a key daily descending trend-line. We have a pretty tight stop loss. Even if we don't get a move all the way to 1.66900, we can gain profits from moves to 1.64857, 1.65600, etc.
#EURAUD, The bulls are here to stayA definite upward trend.
After the euraud peaked at 1.66 the currency responded with a normal correction and the euraud stopped just in support in 16343.
If you want to get into a strong trend the ideal price comes after significant 300-pips repairs as in the above case.
Target: 1.6680
EURAUD melting downAfter that huge rejection candle marked on the rectangle the price action has been a bit choppy for a few days having retested the resistance area twice. After yesterdays bearish engulfing candle today the pair has broken the support and I expect it to reach the 1.605 area (support not retested in the uptrend movement)
This is how I have played this trade (already active) :
The pair broke that minor area of support (thick blue line) and it restested it, I entered after that little rejection candle marked with an arrow.
#EURAUD, Continues to be powerfulIn principle, this signal could be sent first at 1.65, even now it remains a good time.
The euraud broke serious resistance in 1.6343 as can be seen in the graph above.
The euraud in a very positive trend
The candles located above the cloud and all other signs of the Ichimoku indicate continued ascents.
Target: 1.6850.
EURAUD DThe pair is gaining strength but we can see the possible formation of H&S pattern at the resistance area of 1.625. I will keep this pair on my watchlist.
The way I am intending to trade this is wait for the price to reach that area of resistance and look for bearish candlestick formation and/or confirmation from RSI/MACD.