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EURAUD trade ideas

EurAud- Important break could lead to 1k pips riseAfter a recent dip to the 1.6 zone and a period of consolidation, the EUR/AUD has reversed strongly over the past two weeks, leading to a significant breakout. As shown in the chart, following an initial upward movement lasting about a year, the pair corrected and consolidated within a falling wedge pattern for another year. Currently, we see a clear breakout above the falling wedge's resistance, which could lead to a rise of approximately 1,000 pips in the medium to long term. Swing and positional traders might consider buying on any dips around 1.64, aiming for a target of 1.75, while keeping the interim resistance and falling wadge's target at 1.7 in mind.
Long
by Mihai_Iacob
EURAUD I Price has reached the resistance execution area Welcome back! Let me know your thoughts in the comments! ** EURAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
Short
by BKTradingAcademy
1
Tips and Tricks on How to Trade the Inside Bar Candlestick Tips and Tricks on How to Trade the Inside Bar Candlestick Formation What is an Inside Bar? An Inside Bar is a two-bar price action pattern where the second bar (the inside bar) is completely contained within the high and low range of the first bar (the mother bar). This often signifies a period of consolidation or indecision. Trading the Inside Bar: Breakout Strategy: Look for a strong breakout above the mother bar's high for a long position, or below the mother bar's low for a short position. Volume Confirmation: Increased volume on the breakout candle can strengthen the signal. Stop-Loss Placement: Consider placing your stop-loss at the opposite end of the mother bar. Risk-Reward Ratio: Ensure a favorable risk-reward ratio before entering a trade. False Breakouts: Be aware of false breakouts, especially in ranging markets. Combine with Other Indicators: Use the inside bar in conjunction with other technical analysis tools for improved accuracy. Remember, the inside bar is a powerful tool, but it's not a foolproof strategy. Always practice risk management and consider using it as part of a broader trading plan. #tradingview #insidebar #priceaction #forex #stocks #tradingtips
Education
by Forex_Wealth_Factory
EURAUD LONGMarket Structure Bullish on HTFs Entry within both Daily and Weekly AOi Weekly Rejection At AOi Strong Weekly Bullish momentum Daily Rejection At AOi entry also at a Daily and H4 HL level Around Psychological Level 1.62500 Previous Daily Structure Point H4 Candlestick rejection Rejection from Previous structure Levels 5.68 Entry 100% REMEMBER : Trading is a Game Of Probability : Manage Your Risk : Be Patient : Every Moment Is Unique : Rinse, Wash, Repeat! : Stay Hydrated #Follow#Share#Comment#Boost
Long
by mobbie_zw
EURAUD: Poised for an Upward MoveFundamental Factors: Interest Rate Differentials: A widening interest rate differential between the Eurozone and Australia could favor the Euro. If the ECB adopts a more hawkish monetary policy compared to the Reserve Bank of Australia, it could lead to EURAUD appreciation. Economic Performance: Stronger economic growth in the Eurozone relative to Australia might boost the Euro's value. Factors like GDP growth, unemployment rates, and inflation can influence currency movements. Commodity Prices: The Australian dollar is often correlated with commodity prices, particularly those of iron ore and coal. A decline in commodity prices could weaken the AUD, making EURAUD a potential buy. Technical Factors: Chart Patterns: Bullish chart patterns like ascending triangles or double bottoms can indicate potential upward momentum in EURAUD. Support and Resistance Levels: A break above a key resistance level can be a bullish signal, while support levels can act as potential entry points. Technical Indicators: Overbought conditions on oscillators like RSI or Stochastic can indicate potential reversal, but they should be used in conjunction with other indicators and analysis. Remember: Fundamental and technical analysis should be used in conjunction with risk management strategies. The forex market is highly volatile, and past performance is not indicative of future results. Would you like to explore any of these factors in more detail? Or perhaps you're interested in discussing potential entry and exit points for a long EURAUD position? chat me
Long
by FtradeFXArabic