EURAUD – we are waiting for proving sell position

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EURAUD – we are waiting for proving sell position

Trend: Sell/Neutral

Support/Resistance:
R2: 1.62809
R1: 1.62567
S1: 1.62256
S2: 1.61500

Price action:
In this case EURAUD currency pair is into overall bearish flow. At the moment this pair is looking buy on lower timeframe to confused any short term traders but from flow view on this pair we're looking it as potencial sell idea to test 1.62256 support level. After testing this level, we'll see how strong are buyers. This trade will be perfect to sell after price will hold below S1 if it comes to breakout of this support level. After that overall potencial target is based on second support which is not that crytical then we'll have trouble with first support .

Potencial trade idea:

Bears targets:
T1: 1.62256
T2: 1.61500

NOTE – We are trading EURAUD via the preferred trading setups

Disclaimer: Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.


Keywords:
Elite strategy, Custom Indicator, Fundamental Analysis , Tehnical analysis, Price action, Advanced strategies, Trading Education

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