Lingrid | EURAUD sideways MOVEMENT. Double bottom

552
The price perfectly fulfilled my previous idea. EURAUD is trading near a major support zone around 1.7590, where the price just formed a double bottom pattern. After rejecting the upward trend-line, the pair is attempting to stabilize. If buyers hold this level, a move toward the 1.7750 resistance could follow. The overall structure shows potential for a short-term bounce.

📈 Key Levels
  • Buy zone: 1.7590 – 1.7600
  • Buy trigger: confirmation of double bottom bounce
  • Target: 1.7750
  • Sell trigger: break and close below 1.7590


💡 Risks
  • Rejection from 1.7750 may keep the pair stuck in a wide range.
  • AUD strength from commodities or China news can pressure the pair.
  • Wait for breakout or bounce confirmation — false moves likely around lows.


Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

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.