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Euraudidea

EURAUD 4Hr Multiple Opportunities Short As is, EURAUD is trading below previous Buy-zone. For successful Short trade, rejection confirmation is necessary at prices 1.56045 and 1.55832 However! A very important point to note: Price is ALREADY INSIDE A Monthly timeframe BUY-ZONE, ie 1.53609 | 1.56976 IS Buy-zone for Target 1.63463. This makes 1.54173 | 1.53609 zone have Confluence of Support. Therefore, for this SHORT-TERM Short trade to be a success: Confirm rejection to the downside at prices 1.56045 and 1.55832 Be aware that Buyers are exceptionally heavy at 1.54173 | 1.53609 zone--- Meaning, this is a zone where Long entries can be executed using confirmations. Note: Idea is to complement your research. Check comments section for future updates on idea. Like this idea? Like, Share, Comment, Follow, (...) Thank you. Happy Trading.
Short
by legacyliked
3
Long EURAUDAfter clearly placing the support and resistance zones, I can see that price has moved into a second ascending parallel channel. First support zone has been respected since May 2017. Middle support zone has been respected since Jan 2019 and both continue to be respected in the present. Since October 2021, this pair started to recreate a similar formation as March 2021 which leads me to believe that price is going to reject of the latest trend and long towards 1.61600. Zoom out to weekly chart to see clearer picture, then zoom into daily chart to see more in detail.
Long
by PassionPipsTrading
EurAud to break resistance, 1.62 remains my targetIn my previous analysis on EurAud I said that as long as 1.56 is intact, the pair is in an uptrend and once 1.5850-1.5900 resistance is cleared, the pair can continue its rise to the next important resistance at 1.62. Last week EurAud dropped to confirm again 1.56 as support and today we can clearly see that dips are bought I expect a break up sooner rather than later and only a daily close under support will negate this bullish scenario
Long
by Mihai_Iacob
11