Euraudlong
EUR/AUD At Very Strong Supp , Good Long Setup After 4h ClosureThis Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
EURAUD: Selling Trap Zone ✅Although we have broken out of a major trendline we cannot deny the fact that the main trend is bullish.
We may be luring in sellers here, only to bounce from the demand once the equal low liquidity has been cleared.
I will be looking to scale into buys with the members once we break below this minor support.
Until the main demand zone breaks, I have a bullish bias.
Let me know your thoughts in the comment section. 💬
Euraud stuck in patternHi everyone in the TradingView community. I am Rana Sarmad I like to share and talk about trading strategies. If you are a member of my subscribers list and like my ideas, please don't hesitate to let me know by hitting that Like button and growing my notification count!
We are going to discuss about FX:EURAUD
We can see market is stuck in range and testing its support.
So we are expecting perfect rise from its support.
This is my opinion, I really hope this will be useful for you.
This is not a financial advice. Always take trade at your own risk,
Be ready and take care your money. Have a great profit !
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EURAUD 700+ pips movement could happenI will be doing a multi-time frame analysis to give you a good perspective of what the price getting ready to do. To have better opportunities in the market we want to have all the confluences posibles in our favor.
Monthly:
The price is overextended to the downside. We should know that every healthy market cannot move only in one direction. When the price is overextended we always could expect a retracement.
If we take the Fibonacci from the highest point of the retracement to the lower point of the retracement, we can note that the price has reached the Fibonacci profit taking level -.618 which will make the price weaker and help the price to make the movement that we are expecting.
The price has took the liquidity from a previous low. When price take liquidity from one side the movement to the opposite side is most likely to happen.
There is a M formation known as mitigation block, We could expect the price to retrace to the previous support to complete the pattern.
There is inefficiency in the price because the rapid movement that the price created to the downside.
Weekly:
The only thing that we can see different from the Monthly is the inverted head and shoulders the price has created. This confluence is great because is a reversal pattern and is telling us that the price could start the bullish run soon.
Daily:
The price from crating lower lows now is creating short term higher highs. The price have not break the previous lower high which means that technically the price still bearish ( Bad confluence).
Fundamentals:
COT REPORT:
EUR net positions:
Large speculators:31301
Leverage Funds: -5041
Asset Managers: 213,523
AUD net positions:
Large speculators:-28832
Leverage Funds:-13441
Asset Managers: 1426
The COT is telling us that the EUR is stronger which is good because for this movement to happen the EUR has to be stronger than the AUD