Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

EUR/AUD Approaching Support, Prepare For A Bounce!

July 19, 2018 Analytics

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EUR/AUD is approaching its support at 1.5651 (100% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal overlap support) where we expect price to rise to its resistance at 1.5773 (100% Fibonacci extension, horizontal pullback resistance).

Stochastic (55, 5, 3) bounced off its support at 4.8%. We have also identified a bullish divergence with price which contributes to our bullish divergence.

EUR/AUD is approaching its support where a bounce is expected.

Buy above 1.5651. Stop loss at 1.5598. Take profit at 1.5773.

analytics5b5061653240c.png

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The material has been provided by InstaForex Company – www.instaforex.com

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