Sell below 1.4810. Stop loss at 1.4881. Take profit at 1.4693.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.4810 (Fibonacci retracement, Fibonacci extension, bearish channel resistance) and we expect a drop from this level to at least 1.4693 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below the 97% level where we expect a drop from.
Correlation analysis: We’re expecting overall EUR weakness today as seen in EURUSD bearish move. We’re also expecting AUD strength today as seen in AUDUSD bullish move. This combines well for a EURAUD bearish move.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.4810 (Fibonacci retracement, Fibonacci extension, bearish channel resistance) and we expect a drop from this level to at least 1.4693 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below the 97% level where we expect a drop from.
Correlation analysis: We’re expecting overall EUR weakness today as seen in EURUSD bearish move. We’re also expecting AUD strength today as seen in AUDUSD bullish move. This combines well for a EURAUD bearish move.
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.