Facebook
 
 

07.04.202112:16 Forex Analysis & Reviews: Daily Video Analysis: EURAUD approaching descending trendline, potential for a drop

loader

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. Price is approaching our buy entry level, in line with our descending trendline resistance, where we could see a reversal and further drop towards our take profit level, in line with our 61.8% Fibonacci retracement. Stochastics has also reversed from the upper 89.2 level where it has reacted off before, in line with our analysis.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Show more
Can't speak right now?
Ask your question in the chat.