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🇪🇺🇦🇺
In recent sessions, EUR/AUD has been trading within a broader sideways structure, with a temporary uptrend forming inside that range. This corrective move evolved into a falling wedge, a classic bullish pattern. But what truly stands out is the emergence of a diamond formation, a rare but powerful reversal signal.
🔹 The diamond pattern has now been broken to the upside, and price has successfully retested the breakout zone, confirming bullish intent A.
📈 Upside Targets:
• 1.81058
• 1.83000
🛑 Stop-loss: Below 1.77700, to protect against false breakouts or unexpected reversals.
This setup suggests strong bullish momentum ahead, especially with the diamond breakout acting as a technical catalyst. Traders should watch for volume confirmation and continuation signals in the coming sessions.
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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.
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.