Euraudsell
EURAUD approaching support, potential for a bounce!
EURAUD is expected to drop to 1st support at 1.60393 where it could potentially react off and up to 1st resistance at 1.62153.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
EURAUD SHORTAll key levels have been identified. Previous trade I posted of AUDCAD shorts was executed to perfection. Moving on to EURAUD here, the 1.632 level looks promising as well with beautiful rejection and alternation between S/R. The second entry if somehow this level fails would be the 1.643 zone where a longer-term move can be anticipated. A low-risk trade with huge potential to the downside in a medium-term swing to 1.597 area. 3 scenarios have been identified and color-coded from my perspective (blue arrow, green arrow, and purple arrow). As always, exhibit effective risk and money management and watch for any news. Leave any feedback, thoughts or suggestions below. Happy new year traders!
FURTHER SELLING POTENTIAL ON EURAUD EURUAD is showing potential to continue moving bearish. I have marked up potential areas of support and resistance where price may retrace from to move toward our entry point before moving towards our take profit 1 and 2.
Ideally, should price move in our favour, you want to scale out 80% of your position at take profit 1 and let the 20% ride risk free to take profit 2.
Leave any questions or comments down below :)
EURAUD - FOREX - 16. DECE. 2019Welcome to our weekly trade setup ( EURAUD )!
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1 HOUR
Slowly rising market towards market resistance area.
4 HOUR
Market is waving a lot and need a pullback to the downside.
DAILY
Bearish market structure at its resistance, great short entries.
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FOREX SETUP
SELL EURAUD
1ST ENTRY @ 1.62200
2ND ENTRY @ 1.62540 (wait for trigger)
SL @ 1.63150
TP @ 1.61160
RR: 1.1 / 2.35
Use 0.5% risk per Entry!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
EURAUD Market Outlook | Daily Forex Market BreakdownEURAUD
EA practically stuck on the trend line still. You may have heard me mention that you have to be extra cautious taking trades around trend lines because there is a lot of indecision in the market which leads to confusion. So for the time being I am going to step aside and let EA do its thing.