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Euraudforecast

EURAUD - CAN YOU COUNT TO 3?Hey folks, In EURAUD we have the perfect example of how the market makers move the market in levels of 3 to play with every trader's psychology. This indicates to us that the market might actually reverse here. Especially because we're at a D1 Trap Zone. Currently we're waiting for a second leg to complete our market structure. Once formed, we're looking for entries to go LONG on this pair. 1) Keep in mind we're in Level 3 now, so we will see volatile moves. 2) The market might only move up to 1.5750 as this is a quarter point + the H4 is showing a strong downtrend. Let's see what the market brings to us. Don't forget, we're the constant & the market is the variable. Happy trading!
Long
by Matt1994
EURAUD Elliott Wave View: Trading At Equal Legs ExtremeHello Traders, EURAUD short-term Elliott wave view suggests that the rally to 1.6353 high ended blue wave (1) higher. The internals of that degree unfolded as impulse structure with lesser degree cycles showing the sub-division of 5 waves structure. Below from 1.6353 high, the pair is doing an blue wave (2) pullback in 3, 7 or 11 swings before upside renew. We don’t like selling the pair as the right side tag favoring more upside. Down from 1.6353, the pair is doing a 3 wave pullback with lesser degree cycles showing the sub-division of 5-3-5 structure thus favored it to be doing a zigzag correction. The initial decline to 1.6282 low ended black wave ((i)), black wave ((ii)) bounce ended at 1.6339. Black wave ((iii)) ended at 1.6152 & Black wave ((iv)) ended at 1.6192 high. Then finally a move lower to 1.6136 low ended black wave ((v)) & also the red wave A. Up from there, the bounce to 1.6332 high ended red wave B bounce in lesser degree zigzag correction where black wave ((a)) ended at 1.6285. Black wave ((b)) ended at 1.6226 and Black wave ((c)) of B 1.6332 high. Currently, it is trading at the equal legs extreme area (blue box) of red A-B and soon it should end blue wave (2) pullback. Afterwards, the pair is expected to find buyers looking for new highs or for 3 wave bounce at least. We dont like selling it and the right side is to the upside as long as pivot at 1.59692 stays intact.
Long
by Elliottwave-Forecast
EUR/AUD - 350 Pips+ Short Opportunity - ReversalEUR/AUD has been in a consolidation area for about a week and seems to have taken the impact from the last uptrend. As we can tell from our indicators, this pair does not seem to have the steam left to go further high. Thus, we can open a short position for the reversal of this pair back to 1.54. Our Stop Loss needs to be higher than the last highs. Recommended at 1.59. If the pair fails to break down and begins to show some sign of strenght, which I don't expect to, then open a long position. Until now, from the looks of it, this pair seems very week and the resistence has acted well. The impact has been taken, and a reversal is imminent. Happy trading!
Short
by MoolahMaker
2
EUR/AUD chart: 3 crucial factors to pay attention toCommentary provided today is aimed at understanding the 3 important things to keep in mind when trading and/or investing in the EURAUD. The Daily timeframe chart below captures price action from ~ August 21, 2015 till present date. Chart patterns, (which includes trend lines) are utilized in this analysis to point out 3 key areas to pay attention to that are numbered on the EURAUD chart. These are discussed below: (1) The bearish trendline in the EURUAUD that is established by price rejecting approximately 1.65885 and 1.61835 on August 25, 2018 and March 28, 2018 respectively. A close above ~1.62486 would imply resumption of the uptrend in the EURAUD. (2) A rising diagonal pattern (wedge) as drawn here captures price between June 5, 2017 and March 22, 2018. This indicates exhaustion and a break outside of the wedge eventually resulted price moving back to support (i.e. number 3) which is discussed next. (3) Price between 1.53175 and 1.51352 should be watched closely as it indicates support for the EURAUD. Retracement in price action after exiting the wedge found support in this area on January 10, 2018 with another successful test of support on June 6, 2018. Use of at least 2 pivots to connect or draw a valid trendline therefore implies that the top of the support area (1.53175) is indeed valid and any EURAUD investing and/or trading must be aware of price remaining range bound to uptrend for now.
by Coin_Analyst