There has been a clear support forming for EURAUD which has been hit 5 time starting in mid-October 2016. There has historically been another resistance line at fib 0.236 which has been broken late 2016/early 2017 but we have returned to the support. Looking at this pattern I would predict a trend upwards to hit the previous resistance around 1.447.
We can also see a wedge forming which is further supporting the theory that we are about to see a breakout upwards - I would put my second TP at 1.4866, which has been another area which has shown price activity in the past.
CCI is showing the currency as undersold with a trend upwards.
We can also see a wedge forming which is further supporting the theory that we are about to see a breakout upwards - I would put my second TP at 1.4866, which has been another area which has shown price activity in the past.
CCI is showing the currency as undersold with a trend upwards.