ashddylan
Panjang

EUR/AUD - Important Breakout Approaching

FX:EURAUD   Fx Euro/Dolar Australia
57 0 5
We're approaching a big breakout in the EUR/AUD             Pair, the Falling Wedge that begun in late 2015 is coming to an end and we can expect a breakout from this alone, but trading with confluence is key. EUR/AUD             has been in a Flag Pattern for a number of years now and price is approaching the support area , we could see a false breakout the closer we approach the end of the wedge (As we are now) this will be a good place to squeeze in a sell order before the big breakout. Each of the blue lines is what I like to call gates, these are the previous minor support and resistance levels that price may struggle at during the breakout to resistance. Eventually, we should hit the long-term resistance (which price has respected very well) and enter a sell order, if price doesn't rebound at support then that'll be the end of the Bearish flag pattern and the start of a breakout that has been brewing for years.
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