1. Technical Setup (Potential Reversal/Bounce)
Support Zone: If EUR/AUD is near a key support level (e.g., 1.6000-1.5950), a bounce toward 1.6070-1.6100 (+70 pips) is possible.
Oversold RSI: If the RSI is below 30 and starts turning up, it signals a potential rebound.
Bullish Candlestick Patterns: Look for hammer, engulfing, or morning star patterns near support.
2. Fundamental Catalysts
Weak AUD Data: If Australian employment/retail sales disappoint, AUD may weaken.
EUR Strength: Surprise hawkish ECB comments or better-than-expected Eurozone data could lift the EUR.
3. Risk Sentiment Shift
If global markets turn risk-off (stocks drop), the EUR (safe-haven proxy) may gain against the AUD (risk-sensitive).
Trade Plan for +70 Pips
Entry: Near support (e.g., 1.5980-1.6000) with confirmation (bullish candlestick, RSI reversal).
Take Profit (TP): 1.6070-1.6100 (70 pips).
Stop Loss (SL): Below recent swing low (e.g., 1.5930-1.5950, 40-50 pips risk).
Risk-Reward: ~1:1.5 or better.
Support Zone: If EUR/AUD is near a key support level (e.g., 1.6000-1.5950), a bounce toward 1.6070-1.6100 (+70 pips) is possible.
Oversold RSI: If the RSI is below 30 and starts turning up, it signals a potential rebound.
Bullish Candlestick Patterns: Look for hammer, engulfing, or morning star patterns near support.
2. Fundamental Catalysts
Weak AUD Data: If Australian employment/retail sales disappoint, AUD may weaken.
EUR Strength: Surprise hawkish ECB comments or better-than-expected Eurozone data could lift the EUR.
3. Risk Sentiment Shift
If global markets turn risk-off (stocks drop), the EUR (safe-haven proxy) may gain against the AUD (risk-sensitive).
Trade Plan for +70 Pips
Entry: Near support (e.g., 1.5980-1.6000) with confirmation (bullish candlestick, RSI reversal).
Take Profit (TP): 1.6070-1.6100 (70 pips).
Stop Loss (SL): Below recent swing low (e.g., 1.5930-1.5950, 40-50 pips risk).
Risk-Reward: ~1:1.5 or better.
Trade closed: target reached
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.
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.