Euro / Australian Dollar
Long

Upward trend of EURAUD

390
Hi, most of you probably know what a trend is. Here's another opportunity to see how it works.

Last week (October 14) EURAUD started its upward movement. After two impulse increases, EURAUD is currently in correction and we expect the next increase.

If this trend continues upwards, it must reach at least the previous peak of 1.6802. In case of break, we expect to see 1.6853 and 1.6912.

The model fails when the previous bottom breaks.

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