EURAUD:-A double top pattern providing strength to bulls.

Home » EURAUD:-A double top pattern providing strength to bulls.

Overview:– By looking at the daily chart we can see that buyers are showing their potential in the market. The market is showing upside momentum in the market. From the technical prospective,The market is previously formed  hammer which cause market to rise, the swings are making successively higher highs and lower lows, In the chart hourly chart bulls are showing their strong side in the market.  The way bulls are reacting it seems like they are approaching the 1.6200 region.

Technical Analysis:– From the technical view we can see that market is going in uptrend which is providing us bullish signals level bulls will get more aggressive. The pair is trading above all the major and minor EMA line which is provides us bullish signals. The odds are in favors of bulls so it’s better to keep eye on the buy side.AUDCHF is suffering from upside momentum on the four-hour chart and has dropped below the 200 Simple Moving Average.

Trade Idea:– based on the chart and above studies we should be recommending to our traders that go for buy at 1.5690 targets is 1.6220, 1.6300 Sl below 1.5250.

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