EUR/AUD is struggling for direction, trapping traders. Bulls now target a test of the M-formation’s nose. Further to the earlier analysis, EUR/AUD Price Analysis: Bulls seek a bullish extension towards 1.6450s, the price action went significantly against the set-up, but there is always another trade. For a recap, we were expecting an upside daily continuation following the correction of the bullish breakout and test of the W-formation’s nose. However, the market melted and we now have the start of the creation of an M-formation as follows: The M formation’s nose would be expected to be tested as a resistance. However, the price on the lower time frames may still want to move lower following a correction. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD Price Analysis: Bounces off 10-day SMA towards 1.2100 FX Street 2 years EUR/AUD is struggling for direction, trapping traders. Bulls now target a test of the M-formation's nose. Further to the earlier analysis, EUR/AUD Price Analysis: Bulls seek a bullish extension towards 1.6450s, the price action went significantly against the set-up, but there is always another trade. For a recap, we were expecting an upside daily continuation following the correction of the bullish breakout and test of the W-formation's nose. However, the market melted and we now have the start of the creation of an M-formation as follows: The M formation's nose would be expected to be tested as a resistance. However, the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
