EURAUD has been bullish for the past couple of days, and for the past 5 days (to be specific), the pair has managed to retrace 61.8% of its bullish move. Friday's candle has a long-ass lower wick which managed to reach the 61.8 Fibonacci retracement level which also confirms bullish momentum being dominant.
Looking at the bigger picture - there's a descending triangle in play and price is fresh off the triangle's support zone around 1.44330/1.43506. With this setup, I'm anticipating a fifth test of the triangle's resistance (diagonal) and possibly a breakout (likely) of the diagonal resistance since this chart pattern is a trend continuation pattern.
Heed fundamentals!
What do you think?
ANYTHING CAN HAPPEN!
Looking at the bigger picture - there's a descending triangle in play and price is fresh off the triangle's support zone around 1.44330/1.43506. With this setup, I'm anticipating a fifth test of the triangle's resistance (diagonal) and possibly a breakout (likely) of the diagonal resistance since this chart pattern is a trend continuation pattern.
Heed fundamentals!
What do you think?
ANYTHING CAN HAPPEN!
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.