Evening Traders,
Today’s analysis – EURAUD – trading above its local S/R where acceptance is bullish,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- Swing High Objective
- 200 MA Support
EURAUD’s immediate price action is impulsive, trading above its local S/R with technical confluence from the .618 Fibonacci – allowing for a bullish bias.
The Swing high is current objective, exceeding this level will increase the probability of a continuation.
Both oscillators are trading neutral, maintaining their respective bullish control zones is indicative of strength.
Overall, in my opinion, EURAUD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“A quiet mind is able to hear intuition over fear.”
― Yvan Byeajee
Today’s analysis – EURAUD – trading above its local S/R where acceptance is bullish,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- Swing High Objective
- 200 MA Support
EURAUD’s immediate price action is impulsive, trading above its local S/R with technical confluence from the .618 Fibonacci – allowing for a bullish bias.
The Swing high is current objective, exceeding this level will increase the probability of a continuation.
Both oscillators are trading neutral, maintaining their respective bullish control zones is indicative of strength.
Overall, in my opinion, EURAUD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“A quiet mind is able to hear intuition over fear.”
― Yvan Byeajee