Interesting situation on the EURAUD pair. The range of daily candle from 24.09 couldn’t be breached for next two days, so an inside bar pattern was created. Today we observe attempts to break the lower range of the pattern located on1.6457.

EURAUD Daily
EUR Daily – a possible bearish move to 1.6350

If the breakout will be confirmed , and MACD will change to bearish phase- it can be a reliable signal to join the bears and open a sell order.

We must take in to consideration, that level 1.6350 is a Support/Resistance level and if price will reach that value, we can expect a bullish reaction.

I recommend:


In our Facebook group, which you can join anytime: https://www.facebook.com/groups/328412937935363/ you will find 5 simple strategies on which my trading is based. There, every day  we post fresh analyses of currency pairs and commodities. You can also visit my channel where I post my trading ideas: https://t.me/TradewithDargo

 

 

Leave us a comment!