EURAUD: Classic Trend-Following Trade Explained 🇪🇺🇦🇺

٢٥ أغسطس ٢٠٢١

EURAUD is testing key daily structure support.
Taking into consideration that the market is trading in a bullish trend,
we may catch a nice trend-following trade from there.

Our confirmation is a double bottom formation on 1H.
1.6213 - 1.6225 is its neckline.
Wait for its bullish breakout (1H candle close above)
the buy on a retest.

Initial goal will be 1.63

In case if the price sets a new lower low on hourly,
the setup will be invalid.

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