EURAUD Squeeze: Box Breakout Ahead

20 May

EURAUD has been moving sideways inside a clear consolidation box pattern between 1.75200 (resistance) and 1.74000 (support).

✅ A Double Top has formed at the top of the box
✅ A Double Bottom has formed at the bottom of the box

This setup signals a potential breakout move is building up. The market is coiling and could soon release strong momentum in one clear direction.

🚀 Bullish Breakout Scenario
If price breaks and closes above 1.75200, we can expect continuation toward:
📌 1.75765 (Fibonacci 1.618 extension – 1st target)
📌 Even higher levels possible if momentum continues.

📉 Bearish Breakout Scenario
If price breaks below 1.74000, downside targets are:
📌 1.73277 (Fibonacci 1.618 extension – 1st target)
📌 Further levels may follow if sellers take control.

🔔 My Plan:
Waiting for a clean breakout and retest on either side before entering.
Avoid trading inside the box—no clear trend there.
This setup has strong potential once a direction is confirmed!

20 May

İşlem aktif

The price has successfully broken above the upper resistance of the consolidation box at 1.75200, confirming the bullish breakout after forming a Double Bottom. This breakout signals the start of a possible new upward trend.

🎯 Target Zones Based on Fibonacci Extensions:

Target 1: 1.75765 (1.618 extension) ✅

Target 2: 1.76174

Target 3: 1.76468 (maximum stretch)

📉 Stop-loss: Below 1.74800 (inside the broken zone) to protect against a false breakout.