EURAUD: Bullish Setup Explained 🇪🇺🇦🇺

Panjang

Euro / Dolar Australia (OANDA:EURAUD)

OANDA:EURAUD Euro / Dolar Australia

fibonacci supportandresistance doubletoporbottom forex technicalanalysis trader trading euraud euro australiandollar

After setting a new higher, EURAUD retraced to a peculiar zone of confluence:
we see a perfect match between a horizontal structure and fib.retracements of the last two bullish impulses.

Respecting the underlined zone the price formed a double bottom formation and then broke its neckline to the upside.

I believe that EURAUD will bounce soon.

Target - 1.525

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Penafian

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