EURAUD Wave Analysis – 7 May 2025
- EURAUD reversed from the support zone
- Likely to rise to resistance level 1.7700
EURAUD currency pair recently reversed from the support zone between the support level 1.7415 (former resistance from the start of March), the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from February.
The upward reversal from this support zone stopped the previous short-term impulse wave 3.
Given the strength of the support level 1.7415 and the oversold daily Stochastic, EURAUD currency pair can be expected to rise to the next resistance level 1.7700.
EURAUD trade ideas
EUR/AUD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
We are targeting the 1.742 level area with our short trade on EUR/AUD which is based on the fact that the pair is overbought on the BB band scale and is also approaching a resistance line above thus going us a good entry option.
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euraud buy signal. Don't forget about stop-loss.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
EURAUD BUY?Market is reacting to Fib area on Daily time frame. Based on 4HR TF, the market seems to be forming a possible reversal pattern which could lead to a possible reversal.
We could see BUYERS coming in strong should the current level hold.
Disclaimer:
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EURAUD Will Go Down From Resistance! Sell!
Take a look at our analysis for EURAUD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 1.747.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.713 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EURAUD: Bullish Continuation & Long Signal
EURAUD
- Classic bullish formation
- Our team expects growth
SUGGESTED TRADE:
Swing Trade
Buy EURAUD
Entry Level - 1.7627
Sl - 1.7554
Tp - 1.7775
Our Risk - 1%
Start protection of your profits from lower levels
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EURAUD Is Very Bullish! Buy!
Here is our detailed technical review for EURAUD.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.772.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.837 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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EUR/AUD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
EUR/AUD pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 1D timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 1.698 area.
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EURAUD, 68% FIb retracement completed, Buy setupFundamental Analysis
1. Seasonality shows bullish momentum in EURAUD from 10 Apr to Mid of May
2. COT data shows net positions reduction in AUD while Increasing in EUR
3. Overall score of EUR is bullish and AUD is bearish
Technical Analysis
1. EURAUD broke 2 year Rectangular consolidation box
2. strong breakout appear
3. Bulls are in charge
4. 68% fib retracement completed
5. Look for 2 setups
i. if breakout above sideways region then buy setup 2
ii. If breakdown, then look for setup 1
EURAUD Is Bearish! Short!
Please, check our technical outlook for EURAUD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 1.775.
Considering the today's price action, probabilities will be high to see a movement to 1.765.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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