EURAUD at Strong Support Trendline - Reversal?
In this chart, crucial support and resistance are indicating an overall bullish trend since mid-2012. Here,
I have used the Elliott wave pattern. In the beginning, It's an impulsive wave, But forward it's converted into the corrective waves. MA of 50 and 200 indicates a positive trend.
EURAUD is taking pullback after hitting the strong support trendline. In the last weekly candle, it had touched this major support trendline.
If you noticed the strong support trendline, you would get to know that. Every time the trend knocked it, It bounced from that point.
The last weekly candle has touched the strong support trendline. What do you expect ahead?+
Technically, we may see the Euro / Australian dollar at 1.65000-1.70000+ for the longterm investors. But don't buy off below this trendline.
Because after the breakdown, it can drop to the crucial support, you should not buy off.
I have used the Elliott wave pattern. In the beginning, It's an impulsive wave, But forward it's converted into the corrective waves. MA of 50 and 200 indicates a positive trend.
EURAUD is taking pullback after hitting the strong support trendline. In the last weekly candle, it had touched this major support trendline.
If you noticed the strong support trendline, you would get to know that. Every time the trend knocked it, It bounced from that point.
The last weekly candle has touched the strong support trendline. What do you expect ahead?+
Technically, we may see the Euro / Australian dollar at 1.65000-1.70000+ for the longterm investors. But don't buy off below this trendline.
Because after the breakdown, it can drop to the crucial support, you should not buy off.
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