EURAUD Short

[TareqS]

The pair after being bullish has found its resistance around 1.55500. It has been heading towards the South with good momentum. However, the buyers may wait for the price to produce a bullish reversal pattern at 1.545500 to find some long opportunities.

 

[Petezaa]

Price is just ranging at the moment - no clear sell opportunity. Expecting price to hit 1.6000 area before looking for a sell. Alert has been set on this, time to be patient.

 

[TareqS]

The H4 chart shows that the price has been traded around 1.55000. The level may work as a level of resistance and make the pair bearish. Let us wait for a bearish breakout at 1.54700 to go short in the pair.

 

[ForexTus]

The H4 chart shows that the price has been traded around 1.55000. The level may work as a level of resistance and make the pair bearish. Let us wait for a bearish breakout at 1.54700 to go short in the pair.

Would you place a mid term or short term trade?

 

[TareqS]

The price made a bearish breakout at 1.54700 followed by breakout confirmation and a bearish reversal candle. It may head towards the South and find its next support around 1.53000.

 

[TareqS]

The H4 chart shows that the pair found its resistance around 1.54700 and made a strong bearish move. The level of 1.53000 may work as a level of resistance here. A bearish breakout at the level may attract more sellers to go short in the pair and drive the price towards the South with good momentum.

 

[TareqS]

The H4 chart shows that the pair is about to produce an inverse head and shoulder. The price may make its last move to produce that pattern upon finding its support for the neck. I am going to keep an eye to go long in the pair.