AUDEUR trade ideas
EURAUDToday Scenarios and Impact on EUR/AUD.
Department Responsible: HCOB/S&P Global compiles and releases Eurozone PMI data
Bullish EUR/AUD (Rally)
Triggers:
German Services PMI exceeds 52.3, Eurozone Services PMI beats 51.2.
German Manufacturing PMI surpasses 47.1, signaling faster recovery.
Technical Impact:
A break above supply roof ,buy reinforced
Bearish EUR/AUD (Decline)
Triggers:
French/German PMIs miss forecasts, especially Services.
Eurozone Manufacturing PMI falls below 48.3.
Technical Impact:
A drop below support signal selling.
Neutral (Consolidation)
Triggers: Mixed PMIs with no clear surprises.
Technical Impact: Range-bound between supply roof and demand floor
Trade Directional Bias
Moderate Bullish Bias:
Rationale: Strong German/Eurozone Services PMIs (expansionary) likely outweigh Manufacturing weakness, supporting EUR.
Risks: A miss in German Services PMI or broader Eurozone data could trigger profit
Conclusion
Today’s PMIs, particularly German Services and Eurozone Services, will drive EUR/AUD’s short-term bias. A beat in Services data reinforces the EUR’s strength, while Manufacturing misses could cap gains. AM bullsih on EURAUD...long euraud
EURAUD: Bearish Forecast & Outlook
Looking at the chart of EURAUD right now we are seeing some interesting price action on the lower timeframes. Thus a local move down seems to be quite likely.
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potential buyI am patiently waiting for the price to reach the order block before executing my buy order, ensuring that the market confirms my setup before I commit. With a refined strategy in place, I plan to enter the trade once the price reacts to the order block, using Fibonacci confluence and price action signals for validation. My risk management is set, with a stop-loss positioned just below the order block to minimize potential downside, while my target is strategically placed at the projected resistance level. Focused on maximizing my risk-to-reward ratio, I stay disciplined, ready to adjust my approach based on market behavior while aiming for a high-probability trade.
TRADE THE FACTS!!!!...NOT...what you think will happenAll the information you need to find a high probability trade are in front of you on the charts so build your trading decisions on 'the facts' of the chart NOT what you think or what you want to happen or even what you heard will happen. If you have enough facts telling you to trade in a certain direction and therefore enough confluence to take a trade then this is how you will gain consistency in you trading and build confidence
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EURAUD to 1.74000 LevelLooking at the EA Chart Price made a strong move to the upside from the 1.71000 level which after the move price broke above a Strong Key Level around 1.72 with a Lower High Break of Structure, Currently i can see price forming a nice Inverted H&S Pattern at the Key Level giving me a strong indication price wants to break previous Market Structure Higher Lows. I do believe if price stays above the Key Level it will eventually reach the 1.74 level at least a move to the first Market Structure High ( 1.73 level ). The Euro has started the month with some good fundamental data and now that AUD data is being released and so far is not looking good I'm more confident price will start pushing anytime soon.
EURAUD Will Move Higher! Long!
Here is our detailed technical review for EURAUD.
Time Frame: 2h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.721.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.729 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EURAUD: Strong Bullish SignalsThere are clear confirmations of bullish momentum on the 📈EURAUD:
This is evident from the breakout above a resistance line in a bullish flag pattern and the formation of a confirmed change of character CHoCH on the 4-hour chart.
I believe that the market is likely to sustain its upward movement, with the next resistance level seen at 1.7300.