Euraudforecast
EURAUD CLOSE ABOVE 1.64250 CAN PROVIDE LONGS TO 1.66900 An ideal entry is a break and close above 1.64250. We can see that price has created support at previous resistance 1.63200. We have also broke outside of a key daily descending trend-line. We have a pretty tight stop loss. Even if we don't get a move all the way to 1.66900, we can gain profits from moves to 1.64857, 1.65600, etc.
#EURAUD, The bulls are here to stayA definite upward trend.
After the euraud peaked at 1.66 the currency responded with a normal correction and the euraud stopped just in support in 16343.
If you want to get into a strong trend the ideal price comes after significant 300-pips repairs as in the above case.
Target: 1.6680
EURAUD melting downAfter that huge rejection candle marked on the rectangle the price action has been a bit choppy for a few days having retested the resistance area twice. After yesterdays bearish engulfing candle today the pair has broken the support and I expect it to reach the 1.605 area (support not retested in the uptrend movement)
This is how I have played this trade (already active) :
The pair broke that minor area of support (thick blue line) and it restested it, I entered after that little rejection candle marked with an arrow.
#EURAUD, Continues to be powerfulIn principle, this signal could be sent first at 1.65, even now it remains a good time.
The euraud broke serious resistance in 1.6343 as can be seen in the graph above.
The euraud in a very positive trend
The candles located above the cloud and all other signs of the Ichimoku indicate continued ascents.
Target: 1.6850.
EURAUD DThe pair is gaining strength but we can see the possible formation of H&S pattern at the resistance area of 1.625. I will keep this pair on my watchlist.
The way I am intending to trade this is wait for the price to reach that area of resistance and look for bearish candlestick formation and/or confirmation from RSI/MACD.