EURAUD: Bearish Correction Continues EURAUD formed a huge cup and handle pattern and has broken through its neckline on a 4-hour time frame.
This breakout confirms a change in market sentiment and suggests a potential bearish reversal in the near term.
It is possible that the market will continue to decline and could soon reach the 1.7000 level.
AUDEUR trade ideas
EUR/AUD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
EUR/AUD pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 3H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.712 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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EURAUD Set To Grow! BUY!
My dear subscribers,
This is my opinion on the EURAUD next move:
The instrument tests an important psychological level 1.7135
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 1.7187
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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WISH YOU ALL LUCK
EURAUD consolidation towards the key trading level at 1.0750The EURAUD currency pair maintains a bullish sentiment, supported by the prevailing long-term uptrend. However, recent price action suggests an overextended bullish breakout, approaching significant resistance zones on both daily and weekly timeframes.
The key trading level to watch is 1.7050. A potential overbought pullback from current levels, followed by a bullish rebound from 1.7050, could extend the upside, targeting 1.7320, with further resistance at 1.7676 and 1.7800 over a longer timeframe.
Conversely, a confirmed break below 1.7050, with a daily close under this level, could signal a corrective pullback towards 1.6880 and 1.6800.
Conclusion:
While the broader trend remains bullish, the current overextended move suggests the possibility of short-term retracements. Holding 1.7050 as support will be critical for further upside continuation, while a breakdown below this level could trigger deeper corrections. Traders should monitor price action closely and adjust risk management accordingly.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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