In this analysis in H8 timeframe, it's so beautiful just to find down a good profit in Forex. So, I have calculated that EUR/AUD it's going to down toward the $1.54 AUD. So, that will be not good for the Euro.
So, I follow the trend, that always it's my friend.
Daily chart it's so bearish too!!!
In the past, EUR/AUD was into this bullish channel and then, was break down in weekly chart and we starting a new bearish trend if you trade in intraday maybe in H4 timeframe it's very good.
And looking in monthly tiimeframe, I see that EUR/AUD it's more bearish and we can to see in the future down price toward the $1.43 AUD
If you like this analysis, you can to share my analysis with your friends, traders and more and have any plan and idea of this short position.
Remember: I'm more enfocous in the world of cryptocurrency, but in sometimes I make technical analysis in commodities, index and Forex, my own pars to trade. But I trade more cryptocurrency becuase I believe that I'm so speciality in it. And not just in the volatile market that I'm a crack make analysis on Bitcoin or Ethereum, maybe I can to trade in other volatile market like stocks, gold, silver and others. But yes, I like and love to trade Forex to know the situation of the central bank, interest rate and know the sitation of the rest of economies. I like Forex after of trade cryptocurrencies. Because I'm so fan on cryptocurrencies to trade and it's one of my first market to trade and most prefered.
So, in summary we see a bearish trend and I see that EUR/AUD it's going to down. I put a sell order limit at $1.5748 AUD with a SL at $1.5810 AUD or 60 pips and my targe will be $1.5434 AUD or 315 pips.
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I move my buy order limit at $1.5730 AUD with a SL at $1.5783 (50 pips) and my target will be $1.5410 (320 pips)
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I will going to cancel this trade unfortunately, becuase EUR/AUD not touch neer my sell order limit for that same sitaution of Ethereum, now in that case for little more of 13 pips. But, dont worry, I'm trade crypto, so the next week I bring you more opportunities.
@MMFXSignals, cool. But, I see that we can to continue down. But if that will make the case to goes up. I can to make it.
This could be a good plan to have prepared. But I believe that EUR/AUD it's continue down. If we confirm that the bullish rising wedge it's very well and make confirmation above of $1.5836 AUD, we can to bought and find up 200 pips as good plan. But I analyze above of H4 timeframe but in general, we are in the bearish trend in H8 and H4 timeframe. All depending becuase I always follow the trend with confirmation that I use in H8 timeframe yesterday in my analysis here.