The EUR/AUD pair is currently trading inside a well-respected falling channel structure on the 15-minute timeframe. Price action has been bouncing between a descending resistance trendline and a sloping support zone, confirming the integrity of the pattern. The pair recently rebounded from the lower boundary of the channel, indicating potential short-term bullish momentum ahead.
This setup highlights a typical channel reversal bounce, offering a high-probability trading opportunity if the pair maintains upward pressure.
📈 Bullish Scenario – Intraday Channel Rebound
📉 Bearish Scenario – If Support Fails
🎯 Intraday Trade Plan
Sell Setup (on rejection or breakdown):
🧭 Technical Outlook Summary
Watch for breakout beyond channel for directional confirmation
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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This setup highlights a typical channel reversal bounce, offering a high-probability trading opportunity if the pair maintains upward pressure.
📈 Bullish Scenario – Intraday Channel Rebound
- The price has touched the support line near 1.7885 and is now climbing higher.
- Based on previous cycles, price tends to move from support to resistance within this channel.
- A bounce from this level may lead to a move toward the upper channel resistance zone around 1.7960–1.7970.
- The blue arrows illustrate the expected zig-zag movement within the channel.
📉 Bearish Scenario – If Support Fails
- If the price breaks below 1.7880, it would indicate a channel breakdown, invalidating the bullish setup.
- Such a move could lead to fresh downside targets near 1.7850 or lower, continuing the micro downtrend.
🎯 Intraday Trade Plan
- Buy Setup (Reversal Play):
- Entry: 1.7895–1.7905 (after candle confirmation on support)
- SL: Below 1.7875
- TP: 1.7950–1.7970 (channel top)
Sell Setup (on rejection or breakdown):
- Entry: Near 1.7960 resistance or breakdown below 1.7880
- SL: Above 1.7980
- TP: 1.7850 and below
🧭 Technical Outlook Summary
- Pattern: Falling Channel
- Bias: Short-term bullish (reversal from support)
- Key Zones: 1.7885 support | 1.7960 resistance
Watch for breakout beyond channel for directional confirmation
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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📈 Trade Smarter with TradZoo!
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📲 Android App: bit.ly/TradZooApp
📲 Forex App:tradzoo.com/forex/download
🍎 iOS App: bit.ly/TradZoo-iOS-App
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📲 Android App: bit.ly/TradZooApp
📲 Forex App:tradzoo.com/forex/download
🍎 iOS App: bit.ly/TradZoo-iOS-App
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.