Euraudanalysis
⁉️ EURAUD - Market AnalysisHello traders!
⁉️This is my analysis on EURAUD .
Here we are in a bullish market structure, so I am looking only for longs. I expect price to make a retracement and then to reject from bullish orderblock + institutional big figure 1.48000.
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EURAUD bearish continuation the week of 12 Sep 2022This pair has been bearish for a while, for the most part has been respecting previous significant levels (areas). The bulls tried to break and hold above the 1.4800 area last week but did not succeed. I am looking to see if they attempt again and another failure will provide a nice shorting opportunity.
If this happens, we could be looking at a 4R trade that will be in line with the major trend.
Always use sound money and risk management and stay patient in all your trades.
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What do you think about this trade idea? Please comment and share your thoughts!!
EurAud with 1.52 in sightIn my previous analysis regarding EurAud I said that there is a high probability of a break above 1.48 resistance and a rise above 1.5 and even higher.
Yesterday, after a few days of consolidating around the resistance level with pretty volatile moves up and down the pair finally closed the day to the upper boundary of the range, but more importantly, putting in a bullish engulfing on our daily chart.
This for me is an indication that bulls took control and the pair has now a clear way to challenge next important resistance above 1.52.
1.4750-1.48 is now support zone and dips towards this zone should be bought.
As I said, the target can be 1.52 and negation comes with a daily close under this week's low.
Best regards!
Mihai Iacob
EURAUD | SIMPLE PRICE ACTION WITH SnREURAUD has formed double top at 1.48800 level where we witness multiple bearish candle indicating hurdle for bulls.
For short term traders this is an opportunity to do shorting with stoploss just above double top.
For long term traders, wait for the price to get out of no trade zone; meaning we need to surpass the 1.48800 level to invalidate the double top pattern. Or close below the recent breakout level which can acted as support.
What are your analysis on the idea?
EURAUD Short Scenario
Entry - In the supply zone
Target - 1.45680
Invalidation - 1.48820
Risk to reward ratio - 8
Technical confirmations
Full cycle of Elliot wave impulsive part is done and now the corrective part(ABC) needs to be finished towards C. Price has reached the supply zone forming the B wave.
Technical confirmations
Unemployment report in Australia comes on Thursday. The market consensus stands at 35.0 thousand for August, which would be a huge rebound after the -40.9 thousand reading in July.
Australian GDP grew by 0.2 percent in Q2 2022, from 0.7 to 0.9.
DeGRAM | EURAUD buy pullbackEURAUD is moving in the ascending channel by making higher highs and higher lows.
Recently, the market pulled back to the recent support level, which is a psychological level as well, at 1.47000.
Price action has formed classic breakout pullback continuation pattern.
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Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
A break is looming. EurAud can rise above 1.5On the 29th of August, I've written that EurAud can rise following the false break and the 1.47 zone could be the bulls' target.
This target was reached last week and a correction followed.
As we can see from the posted chart, this correction stopped exactly in support, and yesterday's reversal is marked by a strong bullish engulfing.
At this moment there is a high probability of an up break with a target above the 1.5 zone.
Buy dips against yesterday's low can be a good strategy
Jamie Gun2Head Trade - Selling EURAUDTrade Idea: Selling EURAUD
Reasoning: Possibly forming an inverse head and shoulders but resistance is holding for now. Looking to fade the rally.
Entry Level: 1.47000
Take Profit Level: 1.45150
Stop Loss: 1.47660
Risk/Reward: 2.8:1
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EURAUD is setting for a drop!!EURAUD(4H) has formed a very strong bearish price action. price already grabbed liquidity from monthly resistance and formed a clear reversal pattern. In the previous session price already has tested the neckline as resistance and we see a rejection. It is a high probability EURAUD will continue to drop as the long-term trend is down.
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EURAUD possible sell zone!!EURAUD is in a long-term downtrend. After monthly strong bearish engulfer, we have seen monthly doji last month. Currently, the price has grabbed liquidity from the resistance, and we have seen strong rejection from the top. As the price formed a reversal pattern, it is a high probability that EURAUD will continue to drop after testing the neckline of the reversal pattern as resistance, the price may continue to drop.
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