📈 The Big Picture
In mid-February, EURAUD exploded to the upside, gaining over 2000 pips in just two weeks. After peaking near 1.85, the pair corrected sharply, returning to more balanced levels around 1.72.
🕰️ What’s happened since?
The market has resumed its climb and just recently made a new local high at 1.81. On the surface, it looks like bulls are still in control – but a closer look reveals warning signs.
🔍 Key structure observations:
• The current rally appears to be a measured move, topping out near the 61.8% Fibonacci retracement of the previous drop
• Price structure is overlapping, suggesting weak momentum
• A large flag pattern is developing – typically bearish in this context
• The pair still trades above the ascending trendline, but a breakdown is looming
📍 Current price: 1.7805
🎯 Swing Trade Plan
From a swing trading perspective, I’m looking to sell rallies near the 1.80 zone, with:
• Negation: if the price breaks clearly above the recent high
• Target: the recent low around 1.7250 – where the last correction ended
________________________________________
📌 Conclusion:
EURAUD may have exhausted its bullish energy. The technical picture suggests we are in the late stage of the rally, with bearish patterns stacking up. Unless bulls manage a clean breakout above 1.80, this looks like a great place to position for a medium-term reversal. 🚀
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
In mid-February, EURAUD exploded to the upside, gaining over 2000 pips in just two weeks. After peaking near 1.85, the pair corrected sharply, returning to more balanced levels around 1.72.
🕰️ What’s happened since?
The market has resumed its climb and just recently made a new local high at 1.81. On the surface, it looks like bulls are still in control – but a closer look reveals warning signs.
🔍 Key structure observations:
• The current rally appears to be a measured move, topping out near the 61.8% Fibonacci retracement of the previous drop
• Price structure is overlapping, suggesting weak momentum
• A large flag pattern is developing – typically bearish in this context
• The pair still trades above the ascending trendline, but a breakdown is looming
📍 Current price: 1.7805
🎯 Swing Trade Plan
From a swing trading perspective, I’m looking to sell rallies near the 1.80 zone, with:
• Negation: if the price breaks clearly above the recent high
• Target: the recent low around 1.7250 – where the last correction ended
________________________________________
📌 Conclusion:
EURAUD may have exhausted its bullish energy. The technical picture suggests we are in the late stage of the rally, with bearish patterns stacking up. Unless bulls manage a clean breakout above 1.80, this looks like a great place to position for a medium-term reversal. 🚀
Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。