Hi Traders! EURAUD bullish opportunity is forming at the moment. A detailed analysis of this buy setup is as follows:
EURAUD Daily Chart:
On the daily chart the price has positioned itself above a strong level (1. 61842 – 1.62087)
which is now acting as support for this pair. We still have room to 1.66, so until we get reversal signs and patterns we can look for pullbacks on the lower time frames and then start looking for buys.
EURAUD H4 Chart:
On the H4 chart we have a bearish divergence that has formed. Hence we may now expect pullbacks to happen and once the pullbacks completes itself, we may then start looking for buys with bullish evidences.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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