Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
EUR/AUD broke resistance zone
2019-11-11 • Updated
- EUR/AUD broke resistance zone
- Next buy target - 1.4400
EUR/AUD continues to rise after the earlier breakout of the combined resistance zone lying between the resistance level 1.4180 (which stopped the previous sharp (a)-wave earlier this month), the 100-day moving average, resistance trendline of the wide daily down channel from 2016 and the 50% Fibonacci correction of the previous sharp minor impulse wave (i) from December.
EUR/AUD is expected to rise further in the active minor ABC correction (ii) toward the next buy target at the resistance level 1.4400.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...