EURAUD 1.6135 bullish – Bullish triangle breakout points higher
EURAUD rallied through a 5-week triangle (from August 24, 2015 peak) to confirm a bullish triangle breakout pattern and trigger further gains towards 1.6283 (August 25, 2015 high) ahead of the 1.6584 spike high (Aguust 24, 2015) near term. 1.5901 (September 24, 2015 low) provides immediate support. Below lies the 1.5862 area near the triangle breakout point, which should provide underpin strength. However, a decisive push back below 1.5862 would caution bulls and further consolidation would ensue.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: bullish
EURAUD rallied through a 5-week triangle (from August 24, 2015 peak) to confirm a bullish triangle breakout pattern and trigger further gains towards 1.6283 (August 25, 2015 high) ahead of the 1.6584 spike high (Aguust 24, 2015) near term. 1.5901 (September 24, 2015 low) provides immediate support. Below lies the 1.5862 area near the triangle breakout point, which should provide underpin strength. However, a decisive push back below 1.5862 would caution bulls and further consolidation would ensue.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: bullish