here we should see a bearish continuation, respecting its trend channel. The objective will be fixed in the pullback area that is pending to be closed a few weeks ago.
This is just my opinion since i don't trade this market but from what i see, i think the market is going down coupled with "news" of the coronavirus intensifying. DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
With Short Bias in mind, expectation is for Price to Fail at Green rectangles (supports) --turning them to resistances for decline to downside. Follow this idea with previously posted idea for complete price-action story. Momentarily, check comment section for developing updates to this trade-setup/ idea. Like this idea? Like, Share, Follow, and Support this...
#EURAUD is reflecting # AUDUSD High Volumes with a big Impulse in the past Key Levels Fibonacci 61% We have to wait for a pattern confirmation to go short Entry Point 1.625 Sl 1.634 TP1 1.62170 TP2 1.618
This pair formed a double top and we were anticipating this to fall to the area indicated in the chart. We will be entering the trade as soon as the markets open. This pair has a good potential, but we will wait for price action and then decide way forward. Good Luck TriForeX
EURAUD SELL 1.5880 SL 1.5910 TP 1.5850 TP2 1.5800 www.trade-insider.com
Weekly (I), (II) (III): Uptrend, is at wave (IV) to (V) Daily I, II, III: Uptrend, is at the wave II to III. H4 (1), (2), (3): Uptrend, is at the wave (6) to (7). * EURAUD has the Overbought RSI and the Price Channels. * Waiting for a reversal signal at the smaller time frame. Note: Daily and H4 group wave is still valid for an uptrend.
With the entry just below the build up it is a really good entry for a tight S/L. RR around 3.5 (see pic). Nice little set up here. Trade Safe!!
Monthly rejection on the resistance level. The big shadow candle gives a good opportunity to sell on the resistance zone.
This sketch is not an investment advice. Best Regards.
Waiting for trendline retest, and harmonic to finish forming to go short on the pair
Looking to enter short trades upon price bouncing off from resistance. Volume is starting to weaken as price moves up indicating market exhaustion. Another way of trading this pair is to wait for price to break below the potential Double Top Neckline.
Looking for some downside here in the EURAUD since it has made its way to the channel upper trend line. The time to consider short trades is at this point with a target of the channel lower trend line.