Trade opportunities in EUR/AUD

Trade opportunities in EUR/AUD

2020-10-14 • Updated

EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-day moving averages. At the same time, there is still support in the 1.6325/1.6300 area. We will be sure about selling only when the price falls below it. The break out of the consolidation range will open the way down to the 78.6% Fibonacci retracement level at 1.6225. On the other hand, the return above 1.6360 will lead to formation of an interim bottom and trigger a recovery at least to 1.6400. Whatever the way, it will be possible to open good trades.

Trade ideas for EUR/AUD

BUY 1.6365; TP 1.6390; SL 1.6355

SELL 1.6290; TP 1.6230; SL 1.6310

EURAUDH4.png

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