EUR/AUD Uptrend Resumes, Breakout Possible

2 min read
tarantula fx

tarantula fx

Head of Trading

Hi traders,

The EUR/AUD has formed an ascending trend line close to Weekly camarilla pivot, and it might bounce if the POC zone holds. Breakout is also a possibility.

1.5480-95 is the POC zone, and we can see that EUR/AUD is in a daily uptrend with a retracement on an H4 time frame. This confluence is suggesting a potential continuation from the POC zone and a possible breakout. If 1.5530 breaks we could see W H3 hit – 1.5563 and 1.5600. The crack of 1.5450 to the downside will invalidate this scenario.

Many green pips,
Nenad Kerkez aka Tarantula FX

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