EURAUDClosed my EURCAD trade for this one with a nice SL. I am targeting EURAUD 1.40 levels based on trend continuation if all goes well.
Euraudsell
EURAUD Short OpportunityLooking to enter short trades upon price bouncing off from resistance.
Volume is starting to weaken as price moves up indicating market exhaustion.
Another way of trading this pair is to wait for price to break below the potential Double Top Neckline.
EUR/AUD - 200 Pips+ Short OpportunityEUR/AUD seems to have broken it's bullish trend and now is deciding whether it can breakout it's support and fall further down.
We can also see there is Moving Average Convergence Divergence with the MACD with higher highs with the candlesticks and lower lows with the MACD.
I suggest to wait for the breakout, but this could very well be a good setup.
Always trade after your own analysis and money manage properly.
Happy trading!
BreakageFor the previous days, the EURAUD pair has been continuously consolidating few pips above the support-now-resistance area. Due to the unwillingness of the bulls to fight on, it was hugely followed by a series of bear attacks. This of course, after another formation of inside bar, has made me point out to enter a short position for a quick trade.
Euro's reliefThrough my previous analysis, I've shown you several short setups for the Euro currency. These includes EURGBP, EURUSD, EURJPY, and now, EURAUD!
For several days, the Euro-Aussie pair has tested the resistance several times -- and failed -- leading to a descend on prices. In addition to this, a possible fakey signal has been formed. Fakey bar occurs only after a formation of inside bar where when the price action bar produces a pin bar that pushes through the inside bar's high/low. After the formation of the fakey, another inside bar formed again. Look out!
Double Top at Bat's completion?Hey guys,
here as you can see on the left we've just completed a Bat formation, and also, price is in overbought condition. These two elements, along with the structure, make me think it could be the starting point of a reversal.
As of now, on the hourly chart, price is creating a double top with RSI divergence. Let's see how the current candle close in order to decide whether to enter or not.
I'll let you know.
If you have questions, or if you want to share your view, feel free to comment beneath.
Otherwise, see you in the next chart!
Double top at D point!Hey guys,
here as you can see on the left we've just completed a Bat formation, and also, price is in overbought condition. These two elements, along with the structure, make me think it could be the starting point of a reversal.
As of now, on the hourly chart, price is creating a double top with RSI divergence. Let's see how the current candle close in order to decide whether to enter or not.
I'll let you know.
If you have questions, or if you want to share your view, feel free to comment beneath.
Otherwise, see you in the next chart!
EURAUD SHORTEURAUD was rejected at daily resistance and formed a double top. This lines up with the divergence on the AO. I entered a short position at the MA crossover and expect 1.42500 to be reached next.
EURAUD AT TOP OF TREND CHANNELLooking for some downside here in the EURAUD since it has made its way to the channel upper trend line. The time to consider short trades is at this point with a target of the channel lower trend line.
EurAud bounce back before going back upJudging by the ranges on EurAud it looks like it will first show a wave down before bouncing back up.
Selling it with a take profit at 1.4180 and at that point switching to a buy towards 1.4550 the next weeks might turn-out to be very profitable
EURAUD: Bearish Patterns Emerge Below 1.4180The EURAUD is in the process of carving out an ascending channel on the 4-hour time frame. It’s the result of the 280 pip rally that began in the final session of March.
Although the pair climbed to a high of 1.4216 yesterday, sellers were out in force above the 1.4180 handle. The selling pressure formed a 4-hour bearish pin bar, hinting at a substantial depth of offers in this area.
To confirm lower prices are likely over the coming sessions, a close below channel support is preferred. Such a close would expose the trend line that extends from the March 20th low at 1.3872.
From a broader perspective, the technical landscape since early March seems to indicate a head and shoulders pattern. While I don’t personally trade these patterns on anything below the daily time frame, the structure could still signal that lower prices are likely.
From here, I’ll wait for channel support to break on a 4-hour closing basis before considering an entry. At the moment that level comes in near 1.4120. A close below it would expose trend line support near 1.4020 and possibly the 1.3890 handle.
Alternatively, a 4-hour close above 1.4180 would make the chart a bit harder to read. It wouldn’t negate the ascending channel, but it would cause me to doubt the potential for an immediate move lower from current levels.
Time for a Big Reversal? (EURAUD analysis)Hi guys,
here we are on the 4H chart on EURAUD, i've been watching it for quite a bit now. As you can see price is now testing a key resistance level that also lines up with the 618 retracement of the previous leg. As soon as price came to that zone, it got immediately rejected by some selling pressure.
I'm selling at 1,413s level, with stops just 2-3 pips above 1,4200. Target1 would go around 1,4050.
If it breaks the head and shoulders neckline it could go all the way down to 1,3900 and even further.
I'll keep you updated.
If you want to share your view, or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Time for a Big Reversal? Hi guys,
here we are on the 4H chart on EURAUD, i've been watching it for quite a bit now. As you can see price is now testing a key resistance level that also lines up with the 618 retracement of the previous leg. As soon as price came to that zone, it got immediately rejected by some selling pressure.
I'm selling at 1,413s level, with stops just 2-3 pips above 1,4200. Target1 would go around 1,4050.
If it breaks the head and shoulders neckline it could go all the way down to 1,3900 and even further.
I'll keep you updated.
If you want to share your view, or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
EURAUD selllooking for price to push to push upwards for a little longer then start to trend downward at the entry point which is also a tough area if you look to the left
2618 setup in a Trend continuation tradeHi guys,
just wanted to share with you this simple structure analysis on EURAUD. As you can see on the left hand side of your screen, this pair finally broke the 1,41 strong support that has been created previously. In this case we know it is a short signal, but we should wait for a retracement instead of chasing the price.
So, i wait patiently and now price is up to the broken support that could become resistance once is broken. Thus, i start looking for clues on lower timeframes such as 4H and 1H.
On the right hand side of the chart there's the hourly chart of this pair and you can see price has formed a double top followed by a break of structure to the downside, and this represents the selling signal were looking for in order to enter the market.
I'll wait for a 618 retracement and then sell at market with stops above the highs and target1 at the retest of the lows.
Target2 to be determined.
I'll keep you updated.
If you want to share your standpoint or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
2618 at previous StructureHi guys,
just wanted to share with you this simple structure analysis on EURAUD. As you can see on the left hand side of your screen, this pair finally broke the 1,41 strong support that has been created previously. In this case we know it is a short signal, but we should wait for a retracement instead of chasing the price.
So, i wait patiently and now price is up to the broken support that could become resistance once is broken. Thus, i start looking for clues on lower timeframes such as 4H and 1H.
On the right hand side of the chart there's the hourly chart of this pair and you can see price has formed a double top followed by a break of structure to the downside, and this represents the selling signal were looking for in order to enter the market.
I'll wait for a 618 retracement and then sell at market with stops above the highs and target1 at the retest of the lows.
Target2 to be determined.
I'll keep you updated.
If you want to share your standpoint or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
