Forex

EUR/AUD Bullish Continuation Possible

November 3, 2017

2 min read

tarantula fx

Head of Trading

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The EUR/AUD has broken a W pattern to the upside and at this point, it seems like we will see an uptrend continuation. Additionally, the trendline has been broken too and the price consolidates above the D H4 suggesting further gains in the price.

The POC zone ( DH4, EMA89, ATR pivot, W H1) 1.5145-60 could further spike the price to the upside targeting 1.5212 (atr projection high). New W bullish pattern will form ONLY if the price breaks 1.5234 and the target will be 1.5254 and 1.5236 in upcoming days. For this scenario to succeed the price needs to stay above 1.5090.

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