EUR/AUD has been consolidating after forming a clear Rising Wedge structure between the first peak (Top 1) and the second peak (Top 2). Price action has recently tested the resistance area around 1.7860–1.7900, while holding above a demand zone near 1.7820.
From a market structure perspective:
CHoCH (Change of Character) signals earlier in the chart indicate a shift in momentum.
BOS (Break of Structure) confirmed a bearish move before price found support around the 1.7700 level.
The demand zone has been respected multiple times, showing active buyers.
At this stage, two key scenarios are in play:
Bullish Breakout: If price closes strongly above the wedge resistance and 1.7900, we could see a continuation toward the strong high at 1.8101.
Bearish Rejection: Failure to break the resistance may cause a pullback toward the support zone near 1.7700, which is also aligned with a previous weak low.
Trading Approach:
Wait for a confirmed breakout with volume before entering a long trade toward the 1.8100 zone.
Watch for bearish rejections with confirmation candles if considering short positions back to the support level.
Risk management is essential—avoid entering before confirmation to reduce false breakout risks.
Key Levels to Watch:
Resistance: 1.7900 – 1.8101
Demand Zone: 1.7820 – 1.7850
Support Level: 1.7700 – 1.7720
The upcoming sessions could bring volatility, so patience and confirmation will be the key to trading this setup effectively.
From a market structure perspective:
CHoCH (Change of Character) signals earlier in the chart indicate a shift in momentum.
BOS (Break of Structure) confirmed a bearish move before price found support around the 1.7700 level.
The demand zone has been respected multiple times, showing active buyers.
At this stage, two key scenarios are in play:
Bullish Breakout: If price closes strongly above the wedge resistance and 1.7900, we could see a continuation toward the strong high at 1.8101.
Bearish Rejection: Failure to break the resistance may cause a pullback toward the support zone near 1.7700, which is also aligned with a previous weak low.
Trading Approach:
Wait for a confirmed breakout with volume before entering a long trade toward the 1.8100 zone.
Watch for bearish rejections with confirmation candles if considering short positions back to the support level.
Risk management is essential—avoid entering before confirmation to reduce false breakout risks.
Key Levels to Watch:
Resistance: 1.7900 – 1.8101
Demand Zone: 1.7820 – 1.7850
Support Level: 1.7700 – 1.7720
The upcoming sessions could bring volatility, so patience and confirmation will be the key to trading this setup effectively.
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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.
$ FOREX / GOLD / BTC | Real Trades,Real Result | Risk-managed strategiesn &VIP Signal {My Personal Entries} Join Telegram _ Trade smater ||
📬 Join Free Channel:
t.me/profitmagnetpro12
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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.