Hi everyone:
EURAUD has been consolidated since it hits the key resistance area of 1.4930 for a week now. It is consolidated because the price action is trying to breakout of the resistance trend line. Today we finally see some bullish momentum, breaking out of the trendline, and breaks out of the bullish flag pattern on the higher time frame. Potential targets are the recent highs of the daily price action.
Thank you for your support and feedback.
JoJo
EURAUD has been consolidated since it hits the key resistance area of 1.4930 for a week now. It is consolidated because the price action is trying to breakout of the resistance trend line. Today we finally see some bullish momentum, breaking out of the trendline, and breaks out of the bullish flag pattern on the higher time frame. Potential targets are the recent highs of the daily price action.
Thank you for your support and feedback.
JoJo
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Here is the daily chart:
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