Euraudtrade
#EURAUD, The bulls are here to stayA definite upward trend.
After the euraud peaked at 1.66 the currency responded with a normal correction and the euraud stopped just in support in 16343.
If you want to get into a strong trend the ideal price comes after significant 300-pips repairs as in the above case.
Target: 1.6680
EURAUD -> KEEP AN EYE OUT AND DONT MISS MOVESFREE ANALYSIS ON EURAUD
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EURAUD could make one more bullish run to around 1.66500. from then we should see more move to the downside.
EURAUD approaching support, potential for a bounce!
EURAUD is expected to drop to 1st support at 1.61012 where it could potentially react off and up to 1st resistance at 1.61633.
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Losses can exceed the initial investment so please ensure you fully
understand the risks.
EURAUD potential reversal!
EURAUD expected to rise up to 1st resistance at 1.61451 where it could potentially react off and drop down to 1st support at 1.60992.
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EURAUD reversed from resistance, potential drop!
EURAUD reversed off its resistance at 1.62552 where it could potentially drop further to 1.61788.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Major resistance prevails# Resistance was respected
# Bearish engulfing pattern completed
# RSI recovering from oversold conditions
Shorting at market price 1.62732 with
# SL above bearish engulfing @ 1.64194 and
# TP lower down @ 1.57542
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As usual don't bet the farm. Good risk management won't kill you but the lack thereof could!
Short opportunityThe up channel support has been broken indicating a change in market structure.
# Since then price has broken the 1.61326 support and
# Tested as resistance
# Bearish engulfing candle pattern formed (sell signal)
Entered at market price 1.61054 with
# SL above the engulfing at 1.61532 and
# TP lower down around support @ 1.59530
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