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the pair rebounded to test an important support break level now turned immediate strong resistance near 1.4000 region. Reversal from 1.4000 resistance level and a subsequent drop back below 1.3900 mark seems to drag the pair back towards testing 1.3800-1.3780 support area.
March 19, 2015 update:
The price of the pair moves starting wave (1.3730) It is noted that the limits of the line the main direction drawn to this wave along the between-level (1.3930) and (1.3875 It is worth mentioning that the current wave goal access to the area (1.4141) and with respect to trades that day will be watching the movement Price among level (1.4007) and level (1.3944) to seize the opportunity of early entry, technical studies indicate that in the case of a sale, the nearest level can be tested is (1.3866) In the case of increased sales to close four hours below this level, the downward trend will continue, On the other hand, in the case of purchases is the closest level to be tested is (1.4067) and in the case of increasing purchases four-hour closing candle above this level, the upward trend will continue, support and resistance levels are as follows: support first (1.3880) - the second support (1.3772) - First resistance (1.4081) - second resistance (1.4174).
pair- eur/aud
time frame to analysis- m15
http://i57.tinypic.com/al0wlj.jpg
the down movement is hold at the support at 1.3874 level and having up trend signal with parabolic sar. its also setup double bottom chart pattern. if the daily pivot point 1.3971 has been break long with take profit at 1.4050 and stop loss at 1.3900
good luck
EURAUD opened above its daily pivot level, after try to break the pivot, the pair is now move up and may touch 1.4137, then it is possible to continue rise towards 1.3937. However if it re-test the pivot 1.4037 and successfully break the level, the pair will potentially down towards 1.2830
Daily Forecast
Pair: EURAUD
Major Trend: sideways
Time Frame: H1
Reason: Market still going towards 1.4021, given that there are long shadow pattern characterized hammer. However, because the market opens below the pivot point, then will go to 1.3888
Recommendation: Sell with a target of 1.3888, or Buy the limit at 1.3888
March 20, 2015 update:
The price of the pair moves starting wave (1.4067) It is noted that the limits of the line the main direction drawn to this wave along the between-level (1.3934) and (1.4000 It is worth mentioning that the current wave goal access to the area (1.3858) and with respect to trades that day will be watching the movement Price among level (1.3934) and level (1.3942) to seize the opportunity of early entry, technical studies indicate that in the case of a sale, the nearest level can be tested is (1.3866) In the case of increased sales to close four hours below this level, the downward trend will continue, On the other hand, in the case of purchases is the closest level to be tested is (1.4000) and in the case of increasing purchases four-hour closing candle above this level, the upward trend will continue, support and resistance levels are as follows: support first (1.3866) - the second support (1.3799) - First resistance (1.4000) - second resistance (1.4068).
EUR / AUD to frame everyday we find that the pair closed yesterday candle Shooting star closed under 50 fib that's been giving us a signal to the decline but the pair rose today strongly above 50 fib what gives us the possibility to further climb but renew also said the pair became close to the falling trend on the frameweekly
March 23, 2015 update:
The price of the pair moves starting wave (1.3866) It is noted that the limits of the line the main direction drawn to this wave along the between-level (1.3898) and (1.3882 It is worth mentioning that the current wave goal access to the area (1.3990) and with respect to trades that day will be watching the movement Price among level (1.3896) and level (1.3893) to seize the opportunity of early entry, technical studies indicate that in the case of a sale, the nearest level can be tested is (1.3882) In the case of increased sales to close four hours below this level, the downward trend will continue, On the other hand, in the case of purchases is the closest level to be tested is (1.4011) and in the case of increasing purchases four-hour closing candle above this level, the upward trend will continue, support and resistance levels are as follows: support first (1.3863) - the second support (1.3808) - First resistance (1.3993) - second resistance (1.4067).
EUR\AUD
We have nice trangle on 4 hour time frame and i think we can buy this pair our target should be around 1.4060 - 1.4110
and our stop lose under 1.3980
http://www.fx-arabia.com/vb/uploaded...1427114622.png
If we look the current candle on H4 time frame, we can see that EURAUD is trying to reach and break the support level at 1.3884. Then, if EURAUD can break this support level successfully, I think it will open an opportunity for EURAUD to fall deeper and has a potential to reach the next support level at around 1.3684.
Spoiler: