EUR/AUD has been choppy in the daily chart. Yesterday’s candle came out as a bearish candle. The H1 chart shows that the price made a bearish breakout earlier today. However, it headed towards the North and went back into the breakout level again. The chart produced a bearish engulfing candle. However, yesterday’s lowest low seems to be working as a level of support. If the level produces a bullish reversal candle, the buyers may get an opportunity to go long in the pair.
Chart 1 EUR/AUD H1 Chart
The chart shows that the price made a breakout at the level of 1.64000 to start its trading day today. Upon finding its support at 1.63630, it headed towards the North and made a bullish breakout at the level of 1.64000. The pair traded above the level for several candles. As of writing, the price has been bullish around the level. If the level produces a bullish reversal candle, the buyers may go long above the level of 1.64300.
Trade Summary:
Entry: Buy above 1.64300
Stop Loss: Below 1.64000
Take Profit 1: 1.64500
Take Profit 2: 1.64615
Take Profit 3: 1.64800