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AU

EUR/AUD Is At a PIVOTAL Moment! EUR/AUD is again at a fascinating position. It is touching the super important 1.66 resistance once again. If the price manages to break through this level we might see enormous gains in a very short period of time. During this pivotal moment we will have to keep a close eye on the price to see what happens. If the bulls manage to break through the resistance it could be very interesting to go long. Similarly, if the bears are strong enough once again (just like they have been at least 8 times already), a short position will be the better option. Since EUR/AUD doesn't move fast generally, we have the time to observe the price and wait for confirmation or rejection of the horizontal zone first. I suggest to not enter a trade yet, but simply keep this pair on your watchlist and set a reminder for when the price crosses important levels. Such as the 1.67 level for the bullish breakout or the 1.64 level for the rejection. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
by Trading-Guru
12
AUDUSD - WEEKLY OUTLOOKTECHNICAL POINTS: Weekly Fib (white) Daily Fib (blue) 4hr Fib (orange) Weekly support Daily resistance 4hr 200EMA 4hr 800EMA Clear Downtrend on Daily Clear Downtrend on 4hr Buy Confirmation (1): Break and close above Daily resistance, 4hr 61.8% fib, daily 23.6% fib This would also break the lower high/lower low structure and negate the usual correction pullback to the 4hr 61.8% fib level. Buy Confirmation (2): Daily rejection of weekly support and fibs in that area creating a double bottom Sell Confirmation: Break of weekly support, fib levels and 4hr 800ema to target previous swing lows.
by RealistFX