EURAUD Analysis by Peteregwufx

EURAUD Analysis (peteregwufx) 

On EURAUD, from the monthly timeframe I could a double top formed. I know some might not see this but I take as a double top.

However for months I have been looking forward to see the support level at 1.63278 to be broken and it was months back but the pair didn't start to drop immediately but it has to keep raging up and down to the extent the pair went on long for sometime before it started dropping.

Now, it has come back to that support level again at 1.63278. So, i have to go to the daily using my ema indicator and trendline that is broken which indicate a break out to the downside, from there, I got an entry to go short. I am looking to catch about 370pips on this pair as my first taken profit. My second taken profit would 1.55737

In total I anticipate about 700pips+ move to the downside. The final level where I look to see this pair touch is 1.55737. Can this play out? We would see in the weeks and months ahead. 


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