Tag Archives: EURAUD

Buy Euro – Australian Dollar Let the picture speak fot itself. We where in an great uptrend and created a sort of wedge which broke out in August to the upside. Now we pulled back in this wedge, but since the wedge is allmost completed I think there will be another break out to the upside soon. After we touched the upside we may create a new wedge. But if we break that new wedge I think the change is bigger we break out to the downside to touch the red line. But but but, that will be in about 4 years from now, the bigger picture… TP: 1.722 SL: 1.577

Buy Euro – Australian Dollar As you can see on the screenshot above we are moving in a double uptrend. The red line is the uptrend in the bigger picture, the other line in the smaller picture. I looks like we are going to create a wedge with the orange line as upside. So the first next upside target will be this orange line. We now found support on the earlier resistance zone. That is why now will be a good time to buy. Stop loss is placed out of the uptrend area, so that means if we get a reversal stop loss will be at a safe place. TP: 1.721 SL: 1.589

TP: 1.625 SL: 1.554

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