The EURAUD pair is showing a bullish trend, supported by higher highs and higher lows. Recent price action suggests a pullback toward the 1.7850 level, which is a key support area from a previous consolidation.
If the pair bounces from 1.7850, it may resume its uptrend, targeting resistances at 1.8380, 1.8580, and potentially 1.9240 over the longer term.
However, if 1.7850 breaks down and there’s a daily close below it, the bullish outlook would be invalidated. This could trigger deeper downside toward 1.7400, then 1.7070.
Conclusion
Above 1.7850 = Bullish bias remains intact; watch for upside continuation
Below 1.7850 (daily close) = Bearish reversal risk; downside targets 1.7400 and 1.7070
Current sentiment: Bullish with pullback in progress – key level to watch is 1.7850
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
If the pair bounces from 1.7850, it may resume its uptrend, targeting resistances at 1.8380, 1.8580, and potentially 1.9240 over the longer term.
However, if 1.7850 breaks down and there’s a daily close below it, the bullish outlook would be invalidated. This could trigger deeper downside toward 1.7400, then 1.7070.
Conclusion
Above 1.7850 = Bullish bias remains intact; watch for upside continuation
Below 1.7850 (daily close) = Bearish reversal risk; downside targets 1.7400 and 1.7070
Current sentiment: Bullish with pullback in progress – key level to watch is 1.7850
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.