EURAUD - Long-Term Correction in the Making!

8 Apr

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈EURAUD has been bullish trading within the rising channel in blue.

Currently, EURAUD is retesting the upper bound of the channel.

Moreover, the $1.84 - $1.87 is a strong weekly resistance zone.

🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper blue trendline and green resistance zone.

📚 As per my trading style:
As #EURAUD is hovering around the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

29 Apr

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