EURAUD Hits 100 Pip Target What Next?

Tues 7th March 2023 : Daily Currency Strength Analysis

In Today’s Video we’re looking at Trading Setups in:

• EURAUD
• GBPAUD (Covered in Video)
• AUDCHF (Covered in Video)

EURAUD Hits 100 Pip Target What Next?

In today’s forex strength video we identified that the Euro (EUR) has the third strongest currency on the day traders table.

The Australian Dollar (AUD) is the weakest currency across both tables.

This means we could see EURAUD continue to trade higher.

Yesterday we featured EURAUD for long trading opportunities, if you followed along price reached out 100 pip targets of 1.5950.

Now the price is at this resistance we could see price pull back into support for another long opportunity.

Previous highs and trendline support come in around the 1.5800 level.

If price reaches this level and price forms bullish price action, we could look for buying opportunities back to the highs of 1.5950.

Technical Observations

• The EUR is S3 and AUD is W1 on the day traders table.
• Price hit the key resistance and targets of 1.5950.
• If price pulls back from this level, we could look for it to retest support.
• Support can be found at the previous highs and trendline support of 1.5800.
• If price forms bullish price action here we could expect another long entry back towards the 1.5950 highs.