Daily Video Analysis: EURAUD seeing bearish breakout, potential for further drop!
January 8, 2021 8:24 am
Today we take a look at EURAUD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. EURAUD has just seen a bearish breakout of the ascending trendline, thus showing potential for a further drop. It could potentially reverse from our sell entry level, in line with our 61.8% Fibonacci retracement, and drop further to our take profit level in line with our -27.2% Fibonacci retracement and horizontal swing low support.
The material has been provided by InstaForex Company – www.instaforex.com
Today we take a look at EURAUD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. EURAUD has just seen a bearish breakout of the ascending trendline, thus showing potential for a further drop. It could potentially reverse from our sell entry level, in line with our 61.8% Fibonacci retracement, and drop further to our take profit level in line with our -27.2% Fibonacci retracement and horizontal swing low support.
The material has been provided by InstaForex Company – www.instaforex.com
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