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Euraudtrade

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 ! Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the EMOTT brand based on the legal requirements in his/her country of residence
Long
by Theranasaramd
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
Long
by Wiiso