EURAUD BULL Run continuation
Bias Bullish
Fundamental Analysis
AUD has been extreme bearish for the week due to meltdown and gold downwards movement.
EUR has been holding strong after the meltdown.
Price Action:
Price rejected from H4 SR level & H4 trendline. Price broken retracement bearish TL & H1 SR level and closed above both levels. Price most likely to continue higher.
Confluence:
Higher TF (W/D/H4) - H4 SR level & H4 Bullish TL
Lower TF (H1/M30/M15) - Broken H1 retracement bearish TL & H1 SR level
Set up:
Long entry at H1 SR level.
SL 2x ATR(20)
TP Daily SR Level 1:4 RR
Fundamental Analysis
AUD has been extreme bearish for the week due to meltdown and gold downwards movement.
EUR has been holding strong after the meltdown.
Price Action:
Price rejected from H4 SR level & H4 trendline. Price broken retracement bearish TL & H1 SR level and closed above both levels. Price most likely to continue higher.
Confluence:
Higher TF (W/D/H4) - H4 SR level & H4 Bullish TL
Lower TF (H1/M30/M15) - Broken H1 retracement bearish TL & H1 SR level
Set up:
Long entry at H1 SR level.
SL 2x ATR(20)
TP Daily SR Level 1:4 RR
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