FX.co ★ EURAUD is facing bullish pressure, potential for more upside!

Price is facing bullish pressure as it continues to hold above the ascending trendline support and Ichimoku cloud, in line with our bullish bias. We could potentially see further upside above our 1st support, which is in line with our 38.2% Fibonacci retracement, 50% Fibonacci extension and horizontal overlap support, towards our 1st resistance, which is in line with our -27.2% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance.

Trading Recommendation

Entry: 1.52793

Reason for Entry:

38.2% Fibonacci retracement, 50% Fibonacci extension and horizontal overlap support

Take Profit: 1.54800

Reason for Take Profit:

-27.2% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance

Stop Loss: 1.53362

Reason for Stop Loss:

61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal swing low support