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Bullish Engulfing weekly candle still playing out in EUR/AUD

AdamFx42 Posted 13 Oct. as Analysis on EUR/AUD, Target: 1.4779, Date: 1st of December, 12:00 GMT  in #Technical analysis #EUR/AUD #Rsi #Macd #Fibonacci Expansion #Fibonacci Retracement #Bullish Engulfing Candle
Eur/Aud is still moving higher after a weekly bullish engulfing candle
The RSI is still slightly bullish, and MACD has a bullish signal at the moment on the weekly chart
This leads me to believe that the price will move higher
and should first challenge the 23.6% fibonacci retracement level of the last weekly move up,
if the 38.2% retracement level will hold any move down:
Eur/Aud weekly chart
On the daily chart we see a higher RSI, that is more bullish
and the MACD signal line is about to cross…
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AdamFx42 19 Oct.

Price is moving up slowly towards the 23.6% fibonacci weekly retracement level
just as I predicted it would - nice

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AdamFx42 5 Nov.

Target area was almost touched, and then came a deep retracement down and now a move up again
The 38.2% weekly fibonacci retracement which was broken to the upside has been retested with the move down to 1.4215 - a strong bounce back up has followed and we should be in line for my target now

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EUR/AUD on its way down to support area

AdamFx42 Posted 17 Aug. as Analysis on EUR/AUD, Target: 1.4280, Date: 1st of October, 12:00 GMT  in #Technical analysis #EUR/AUD #Weekly Trendline #Fibonacci Expansion #Daily Channel
Eur/Aud is supported by a weekly trendline for now,
but on the daily chart lies room for a further move down from current position
The weekly trendline comes in around 142.5 at the moment
and fibonacci expansion points to a long-term target area of 158 on the weekly chart:
Eur/Aud weekly chart
On the daily chart we find that although the pair has broken upward out of a bearish daily channel,
the fibonacci expansion of 61.8% of the last downward move points to an area around weekly support line;
…
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AdamFx42 29 Aug.

Daily fib support at 61.8% failed to hold, but 100% is holding price above 1.41

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AdamFx42 11 Sep.

Big dip down to 1.38 - did not see that coming
price is moving back up to target area now, though

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AdamFx42 16 Sep.

price has moved back to my target area

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Looking for a good entry

AdamFx42 Posted 1 May  in #Trader's blog #GBP/AUD #EUR/AUD #Looking For Entry #GBP Strength?
A mistake that I made last month was trusting Gbp strength too much,
and blindly buying all pound crosses - while retracement down was due first
This month I will be looking at a good entry point on 1 trade first:
Gbp/Aud (that or either Eur/Aud) depending on which hits a good entry level first
The key here is Aud weakness and a stronger move back down in Aud/Usd
while either Gbp and /or Euro are due for a move up
While data is weaker for Aud, and Aud/Usd should retrace back down to 0.9225 level…
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EUR/AUD back up again after technical retracement

AdamFx42 Posted 16 Feb. as Analysis on EUR/AUD, Target: 159.3400, Date: 1st of April, 12:00 GMT  in #Technical analysis #EUR/AUD #Fibonacci Retracement #Inverted Head And Shoulders #Fibonacci Expansion Levels
Eur/Aud seems to be on its way back up after retracement after hitting a 61.8% Fibonacci level of the previous move up
on the weekly chart, a new move up is now already forming
On the first weekly chart I have drawn the inverted Head and Shoulders which started this present move up
and whose target has already been met
On this chart we also find that Fibonacci Expansion level of 61.8% from the previous move up on weekly chart
has been hit, and has acted as resistance - and the pair has bounced o…
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