EURAUD Still bearish within the Channel Down.

5 jun

This is basically an update to our last EURAUD analysis (April 05, see chart below) two months ago:

As you can see the price was rejected at the top of the 1-year Channel Down but since May 07 has turned sideways. In fact, looking at the 1D RSI, we see a Higher Lows Bullish Divergence since April 09, while the price was on Lower Lows.

This is similar to the Higher Lows that started on December 01 2023 and resulted in a Bullish Leg of +3.39%. As a result, we are taking profit on our sell position and open a buy, targeting 1.6550 (top of the so far dominant Channel Down).

-------------------------------------------------------------------------------

** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇