EURAUD Recurring Channel Up hints to buying the pull-back

The EURAUD pair recently broke above the 1D MA50 (blue trend-line) and came just one step before testing the 1D MA200 (orange trend-line), which caused (on July 01) the last major rejection. We can see the possibility of a Channel Up emerging, in the same formation as those of November - December 2021 and March - May 2021. Notice the similarities on the 1D RSI sequences.

As long as the 1D MA200 is unbroken, it would be best to buy any pull-back that occurs below the 1D MA50and target, initially, the 1D MA200.



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