Market Overview:
The Euro has shown strong recovery against the Australian Dollar after weeks of downtrend movement inside a descending channel. With that structure now broken and a clean bullish push above resistance levels, EUR/AUD is setting up for a potential continuation rally in the coming sessions.
Key Technical Elements
1. Descending Channel Breakout
The pair spent several weeks inside a well-respected descending channel, forming lower highs and lower lows. A breakout to the upside signals a shift in market sentiment and the possible end of the bearish phase.
2. Consolidation Structure
After breaking the channel, price moved into a consolidation phase between 1.75000 and 1.77000, building a solid base. This zone acted as accumulation, where buyers were gradually gaining control.
3. Bullish Impulse Move
The most recent bullish breakout above 1.78621 confirms buyer dominance. This move broke previous highs and closed with strong bullish momentum, turning resistance into fresh support.
The Euro has shown strong recovery against the Australian Dollar after weeks of downtrend movement inside a descending channel. With that structure now broken and a clean bullish push above resistance levels, EUR/AUD is setting up for a potential continuation rally in the coming sessions.
Key Technical Elements
1. Descending Channel Breakout
The pair spent several weeks inside a well-respected descending channel, forming lower highs and lower lows. A breakout to the upside signals a shift in market sentiment and the possible end of the bearish phase.
2. Consolidation Structure
After breaking the channel, price moved into a consolidation phase between 1.75000 and 1.77000, building a solid base. This zone acted as accumulation, where buyers were gradually gaining control.
3. Bullish Impulse Move
The most recent bullish breakout above 1.78621 confirms buyer dominance. This move broke previous highs and closed with strong bullish momentum, turning resistance into fresh support.
Trade active
🔥 EURAUD 2nd Target SMASHED! 🔥Another powerful move in our favor — EURAUD hit the 2nd Target flawlessly! ✅
🎯 Precision Entry
📊 Technicals on Point
💰 Profits Delivered
Hope you all enjoyed the ride! Stay tuned for more high-probability setups coming soon
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.