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Euraudbuy

EURAUD, daily tf, buy on retest of supportHello my friends, The second setup for next week gonna be EURAUD pairs. As you can see this pair has shifted from bearish to become bullish as price now making higher highs and higher lows. There is not many things to analyze in this pair and i am just gonna use simple support and resistance along with price action. I do see a possibility that price making a triple bottom or cup and handle pattern previously but i will still keep it simple. Notice that i have marked 1.6540 as a horizontal level of support. Drawing a fibonacci retracement we could see 1.6520 is where 61.8% fibonacci level located, it is also the area between EMA-10 and EMA-20 so we could see some buying power around that area. The last friday candle closed with a doji so i could say the retracement of EURAUD pretty much going to end soon. I am gonna set a buy limit order in this pair. Buy EURAUD 1.6520 Stop loss 1.6470 Take profit 1.6775 RR ratio 1 : 5.2 Use only 1-2% risk Good luck
Long
by HayatoDragonFX
EurAud- Is the correction over?I was bullish EurAud ever since 1.65 and the break above 1.66 came to confirm my outlook. The break was violent and the pair skyrocketed to 1.68 in a straight line. A correction after this violent rise was normal and this gave bulls the opportunity to open long trades on dips. Now the pair found some support on 1.6650 zone which is also 50% fibo retracement and the correction could be over now. A confirmation of this outlook comes with a daily close above 1.67 and this also opens the door to further gains to my predicted target of 1.7
Long
by Mihai_Iacob