Good morning traders! Today we will analyze EUR/AUD, as it is in a particular situation that can be a good opportunity to take for the long term.
🔸Let's first analyze the long-term chart (Published):
- We see an obvious upward trend that has been in place for almost 10 years.
- Recently, the price bounced back to the lower trend line and was rejected to the upside.
- This is a bullish sign, leading us to think of possible bullish momentum.
🔸To see the situation more in detail, let's go to the Daily Chart:
- Here, we also see that the short-term bearish channel was broken to the upside and the local resistance zone.
- Yesterday was a very volatile day, and we saw a large rejection candle in the support zone, which supports our bullish view.
- The target that we consider possible in the medium term is the Resistance zone at 1.68000.
🔸Let's first analyze the long-term chart (Published):
- We see an obvious upward trend that has been in place for almost 10 years.
- Recently, the price bounced back to the lower trend line and was rejected to the upside.
- This is a bullish sign, leading us to think of possible bullish momentum.
🔸To see the situation more in detail, let's go to the Daily Chart:
- Here, we also see that the short-term bearish channel was broken to the upside and the local resistance zone.
- Yesterday was a very volatile day, and we saw a large rejection candle in the support zone, which supports our bullish view.
- The target that we consider possible in the medium term is the Resistance zone at 1.68000.
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.