Euraudbreakout
EURAUD - Potential LONG - Week Commencing 29th August 2016EURAUD has been an interesting pair to watch over the past couple weeks. Price has declined breaking the weekly bullish TL, tested major support as well as bouncing off 200-day moving average on weekly time frame. Failing to close below these is good indication for a bull run.
Recently, we’ve seen the AUSSIE DOLLAR decline, as China’s manufacturing news has been disappointing. This has enabled the EURO to gain momentum and start a bull run. 2 weeks ago price re-entered the weekly bullish TL and made new daily highs.. Last week price retested the recently broken bearish TL and ended the day as a strong bullish Doji.
In the coming week, china are due to release manufacturing data which is forecasted to be disappointing which could act as a catalyst and allow the EURO to continue its bull run. If we go down to the hourly time frames we see that price has made lower highs and lower lows. Therefore, we will not enter our long trade until we see a reversal with higher highs to confirm the bull run has started. We first expect price to test the red resistance zone. Once this is broken price will continue up to test the weekly bearish TL at 1.58300.
(EURAUD) 4hr - Speculation and AnalysisWe broke a major trend line after testing a major support, then after hitting a minor resistance the pair decided to test the the support once again.
with that being done, am expecting it to go up from here once again.
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Liability Disclaimer : All trades posted here are my personal view of the market.
If your planning to use them as signal, do your own research first and you are responsible for your own entries, exit, profit and loss management.
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(EURAUD) Daily - Speculation and analysis
I gave a EURAUD buy signal here earlier which bagged us 210 pips. Since then the pair has pulled back down and consolidated but its slowly turning to a bullish trend in the daily time frame. We have also broke the daily trend line and did a successful pull-back to the line, am expecting upwards movement from here and on but lets see how it goes !
EUR vs AUDWe might break the trendline from the looks of it.
IF we do, wait for a minor pullback and the buy.
shorting EURAUDEURAUD broke the trend line, consolidated a bit, a small pull down, and now its trapped in a channel.
am expecting the channel to break and head down to our TP.
this is a risky trade, am opening a small position and so should you.
- Great ratio
- Broken trendline
- MACD divergence
EURAUD 1hr 1mo descending wedgeDescending wedge that I would prefer to be on the short side once it breaks that support level because it will be a sharp drop. If it bounces along that support we can expect a grind upwards.
