Forex Market Ideas

EURAUD Short Term Forecast And Technical Analysis

Hi Traders! EURAUD short term forecast and technical analysis is here. The way I would like to analyze the chart for setups is based on multi-timeframe confirmations because in my POV if we get more evidences on different timeframes for the same direction then it makes the setup much more reliable. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club Spoiler alert – free memberships are available! Let’s start our analysis from the highest timeframe which will be the daily chart here.

EURAUD D1(Daily) Chart Analysis – Range, Parabolic Sar, ADX Indicator

On the daily chart the price was moving inside a range, this range is formed by the highs and lows reaching parallel resistance and support zones. The price which was respecting this range so far has currently has broken above the top of it, which we may consider as evidence of bullish pressure. Also based on the Parabolic Sar we could see that the dots are below the price which we may consider as another evidence of bullish pressure. In addition to this, the ADX indicator gave a bullish signal at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads value over 25, we may consider this as another evidence of bullish pressure. Also currently there are no signs opposing this bullish view. We may now move down to lower timeframe and look for evidences supporting this bullish view.

 

 

EURAUD H4(4 Hours) Chart Analysis – Heikin Ashi Candles, Bullish Trend Pattern, ADX Indicator, Stochastic Oscillator, Strong Support Zone

On the H4 chart, based on the Heikin Ashi candles we can see that currently, we have strong bullish bodies in upward moving market conditions so it basically reflects a bullish environment.

Also the price which is moving higher has created a bullish trend pattern in the form of three higher highs, higher lows, we may consider this as evidence of bullish pressure. Generally, after a bullish trend pattern, we may expect corrections and then potential continuation higher. Currently, it looks like a correction is happening, also based on the Parabolic Sar we could see that the dots are below the price here as well which we may consider as another evidence of bullish pressure. In addition to this, the ADX indicator gave a bullish signal here as well at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads value over 25, we may consider this as another evidence of bullish pressure. Also based on the Stochastic Oscillator we could see that the price has reached its extreme which we may consider as yet another evidence of bullish pressure. Until the strong support zone shown in the image below holds my view remains bullish here and I expect the price to move higher further in the short term.

Technical Analysis & Forecast Summary

EURAUD D1(Daily) Chart Analysis 

  • Range, Parabolic Sar, ADX Indicator

EURAUD H4(4 Hours) Chart Analysis 

  • Heikin Ashi Candles, Bullish Trend Pattern, ADX Indicator, Stochastic Oscillator, Strong Support Zone

Trading Tips

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.

Also, don’t forget to protect your buy trade using a stop loss and make sure to set a target and keep a proper risk/reward ratio.

You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.

Not sure how to enter a trade? Spot reversals (bounces)? Not sure how to spot breakouts?

I invite you to join us in our live market analysis, on daily basis, and improve your trading with us.

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Also, you can get one of our strategies free of charge. You will find all the details here

 

If you have any further questions, don’t hesitate to drop a comment below!

 

To your success,

Vladimir Ribakov
Certified Financial Technician

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.

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