EURAUD MIGHT BE THE EASIEST WAY TO SCALPWhen you look at the overall trend of EURAUD it has been on the downside. So scalping stratgy should be only looking to sell on lower timeframe.
I already had one entered today and managed half of it and now running on risk free.
I am now looking to enter a new trade if it comes to the level im waiting OANDA:EURAUD
Euraudshort
EurAud false bullish break ?Still having bearish bias on this pair. With previous bearish momentum, it is currently forming a continuation pattern. We need a confirmation break for this trade as it is sending mix signal currently on the chart. It is expected price to break the major trendline to form a new low.
EURAUD ANALYSISEURAUD on a downtrend and approaching 2 supports, 1.57 and 1.56. 2 Important places where the downtrend could be broken.
-If both supports are broken potential short to 1.5445 for 150 pips.
-If a support does hold we need to wait for the break of the downtrend, when we have confirmation we enter on a long with 1.59/5.595 as the target.
EURAUD; Time to catch a short swing tradeEURAUD formed a head and shoulder on D1 which is a classic reversal pattern. Breakout of the neckline and bullish trendline gives us a great opportunity to short the market on a retest. From there I sell the market to the next swing low.
What is your opinion on EURAUD?
Nice trading!
EURAUD ANALYSISEURAUD is testing big support again. EURAUD is failing to make lower lows since it entered this range in mid July. If EURAUD keeps closing above this support we can see another move testing the resistance at 1.615. If however we can get a candle closing below this support with big volume we can see a move down to 1.58500 or even lower since we would be creating new lows and possibly entering a new range zone.