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EURAUD trade ideas

EURAUD: Your Trading Plan For Next Week ExplainedEURAUD is currently in a long-term uptrend on the daily chart. At the beginning of the year, the price created a large ascending triangle pattern, which is a common bullish formation. A significant bullish signal would be a breakout above the resistance line, which acts as the neckline of the pattern. Confirmation of buyer strength and a continuation of the bullish trend would come with a 4-hour candle closing above this level. The next target for the price would be 1.6761.
Long
by linofx1
3
EURAUD Bullish Momentum: Time to Enter the Market!I'm eyeing the EURAUD pair right now, and the outlook looks promising. With a clear direction to buy, I'm setting an entry price at 1.66227. The take profit level is marked at 1.66641, while the stop loss is safely positioned at 1.65798. The rationale for this bullish sentiment is multifaceted. Primarily, the EASY Trading AI strategy reveals a strong upward momentum in the EURAUD pair, driven by favorable economic indicators from the Eurozone and a relatively stable Australian economy. Recent data shows that the Eurozone is experiencing higher consumer confidence, which typically leads to increased demand for the Euro. Additionally, the Australian dollar has been under some pressure due to fluctuating commodity prices, which presents a favorable environment for EUR strength. With our entry point at 1.66227, this allows us to capitalize on a potential price increase, aiming for that sweet take profit target. The stop loss at 1.65798 is designed to protect against unforeseen market reversals while providing enough room for the position to breathe. Keep an eye on the market sentiment, as minor shifts can impact our strategy. If you are new to trading, consider utilizing tools that implement the EASY Trading AI strategy, or subscribe to our signals via Telegram for timely updates and insights to enhance your trading decisions. Remember, while trading comes with its risks, thorough understanding and strategic planning can make a significant difference. Happy trading!
Long
by ForexRobotEasy
EURAUD to see a capped rally?EURAUD - 24h expiry The medium term bias remains bearish. A higher correction is expected. Preferred trade is to sell into rallies. Bespoke resistance is located at 1.6680. The hourly chart technicals suggests further upside before the downtrend returns. We look to Sell at 1.6680 (stop at 1.6730) Our profit targets will be 1.6540 and 1.6510 Resistance: 1.6660 / 1.6700 / 1.6750 Support: 1.6600 / 1.6550 / 1.6500 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
EURAUDEUR/AUD is breaking out of a channel, forming a bearish triangle consolidation. This pattern suggests liquidity is building for an impulsive move, especially with high-impact news like NFP on the horizon. Watch for a wick above the previous high or a retest of a bearish order block. A pin bar or engulfing candle at this level will confirm that upside liquidity has been grabbed, trapping traders and signaling a bearish breakout. Such a setup aligns with a potential downside move after the liquidity sweep.
Short
by mwananukachabota
EURAUD Analysis - Bearish Flag in PlayHello Traders, I hope you've had a productive week so far. Today, let's dive into the EURAUD 1H chart to assess the current market structure and possible next moves. 1. The price has recently broken a key neckline following a rejection at the weekly pivot point zone. 2. Post-breakout, a bearish flag structure is forming, indicating potential continuation to the downside. 3. The price has just retested the 0.618 Fibonacci retracement level, which aligns with the top of the flag, and we've observed rejection near this zone. Also, tomorrow's NFP (Non-Farm Payrolls) report will be critical. It's important to monitor how EURAUD reacts, as increased volatility can lead to sharper moves in either direction. I'm anticipating a continuation of the bearish momentum with potential downside targets near the 1.65 zone and below. Let’s stay patient and disciplined, keeping risk management at the forefront. What are your thoughts? Feel free to share your views below
Short
by Speedrei-FRX
Lesson Learned: What Seperates the Greats from the AmeteursI am getting back to trading again after several years of unprofitability. I went over my trade entries from many years ago, as well as entries I backtested, now that trading view seems to have improved it's bar replay, it's been even easier. I made a discovery: 1. High R/R as well as moves with possible multiple entry opportunities are found on the 1hr or higher timeframe breakout structures. 2. The losses I had taken came from trading breakouts within a consolidating market. 3. Winners start working rather quickly, they go move big and fast. When checking my trade duration, the losses tend to happen either very fast, or they linger for a bit, then hit my SL. or perhaps a small profit. Winners tend to have very fast(especially since I daytrade the 5min). This was a great observation, as last night, I got to see it in action again, using live money and real emotions. Now I can see what I do so I can learn. Lessons Learned: 1. Trade Only 1hr or higher timeframe breakout structures. It's fine to take a 5min breakout within to catch the full breakout(as you would take a 1hr structure to catch a Daily chart breakout), however, step back if market is hostile. This allows for: Optimal R/R due to a bigger trending move Higher win rate due to cutting out losses from random price breakouts due to using only the 5min chart patterns. Patience to wait for the bigger trend to break out, when the market moves and can actually provide a good trading environment. 2. Avoid Hostile Markets. mentioned on lesson 1, but is worth reemphasizing. Continuing to reenter a market that is clearly moving unfavorably to your plan is death by 1,000 papercuts. Rather than continuing to try to get in, which is absolutely fine in a favorable market, use your "sit-out power" - The discipline to stay out of the market when conditions dont suit your strategy. By sitting out during unfavorable periods, top traders like Mark Minervini(U.S. Investing Championship 1st place winner on multiple years with multiple students also reaching top ranks) maintains a win rate closer to 50%. 3. If market takes too long to go, it could be a sign that it is not ready yet and may most likely continue correcting . This is clearly evident in how the market today, although it seemed to be forming double tops, and breakout structures, it didnt breakout yet, it just extended it's correction, making this move unpredictable, and raising the chances of stopping out. Trading is probabilities, and successful trading is moving the probabilities in your favor. This may be an opportunity to revisit during more favorable market conditions, when it begins to trend. I used a time stop today, and it is something that I have recently started implementing, as I also discovered that many successful traders also use a time stop, because timing the market breakout is a key element in trading the market profitably, as well as is staying out when the timing is off and avoiding a full unnecessary loss when markets are moving unfavorably for a long period. A tweet I read today, published by Law Wai-Sum, known on X as @JLawStock, One of Mark Minervini's student's, and also 1st place winner of the Eleven Month 2024 U.S. Investing Championship with a 308.6% return in the Money Manager Verified Rating($1 Million+ Accounts), yesterday, mentioned " to improve trading performance, the first step is not to seek trading opportunities but to learn how to eliminate them ...Currently, the U.S. Stock market is also not the time for me to engage in agressive trading. I have given up on many trading opportunities, but this is cautious timing approach allowed my overall account to achieve double digit growth last december with minimal drawdowns. The second step is to learn to focus on opportunities that truly belong to you. How many times in the past have you kept firing away, only to end up busy for nothing and making no progress? This shows that the majority of trades are, in fact, meaningless. The major contributions to your account often come from a few key trades. But one thing is for certain: These key trades do not present entry opportunities every day- they only appear at the most favorable moments, and when they do, that's when you grab the money in large handfuls..." This was so special for me to read precisely today, as I took losses for trading an unfavorable market, and now, hours later, I see, the market was not breaking out. Jesse Livermore, or JLaw himself couldve been trying to trade these breakouts and they wont go. The key is, they wouldn't continue trading these breakouts. they dont get results from the markets because the market just move in their favor, rather, they decide to keep their profits by staying out when it does not. I invite you, as a reader, to take action on the knoweledge learned, and observe your past trades. zoom out, were you taking losses due to trading a hostile and corrective market? Rather than switch and learn new strategies(As I once did, which was fine too, as it was great knoweledge, but I go back to the basics, what I started with, because it works, it always did, I just needed to do a better job of understanding when it worked and when I was overtrading), I challenge you too, to develop further YOUR strategy. To understand when to stay out and sit in cash.
Education
by DAVID_GIRALDO
EUR/AUD looks ready to tap outFrom a purely technical perspective, EUR/AUD could look appealing to bears. Resistance was found at 1.68 before bearish range expansion and a potential bear flag followed. But I also feel like we have seen this movie before (even if it was upside down). In late November we saw a false break of the June and October lows before a bull-flag breakout occurred. we then saw another leg higher, bullish breakout and retest of the 200-SMA before its final leg higher. If the reverse is to play out, we could now be in for a bull-flag breakdown towards the 200-day SMA, bearish consolidation, then breakdown and retest of the 200-day SMA before its final leg lower. From a fundamental perspective, I believe markets have priced RBA cuts in too aggressively and the USD could be in for a pullback. And if Trump's policies really are less inflationary as feared, it could trigger a risk-on rally which could benefit an arguably oversold AUD over the euro. And that is why I am now hunting EUR/AUD shorts. MS
Short
by CityIndex
Potential bullish rise?EUR/AUD has reacted off the pivot and could potentially rise to the 1st resistance. Pivot: 1.65908 1st Support: 1.64787 1st Resistance: 1.67157 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets