Daily Video Analysis: EURAUD potential for bounce!
Today we take a look at EURAUD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Prices are making a double bottom pattern, and is sitting on an ascending trendline support. Prices are also making higher lows and higher highs and currently is going to make a higher high. Prices might push higher towards graphical swing high resistance in line with 61.8% Fibonacci retracement. Stochastics is also approaching support, potential for bounce, in line with our analysis. Bullish divergence is also spotted in RSI.
The material has been provided by InstaForex Company – www.instaforex.com