Good day traders,
Happy Independence Day to my Nigerian brothers and sisters. How did your first day in the market go?
Did you trade or did you keep off like I usually do on Monday’s?
Well, as for me, I took a trade on gold (sold), and it panned out well. My being skeptic on Monday’s held me back a little as per risk level, but hey, I can’t complain, I came out of the trade with some profits.
So, let’s hit the charts and see what Tuesday has for us.
1.EUR/AUD
EUR/AUD on a weekly chart shows a bullish trend overall.
However, upon closer look, there are daily ascending channels that can be harnessed if due diligence is taken. Presently price has broken out of a support level (1.60560) and the breakout seem to have enough of fuel to drive price on a bearish run to it’s next support level which is below price level 1.59140 on or before Friday close of market.
Mind you, you have to be patients enough to wait for the present candlestick to close at 10 pm GMT and also patient enough for a pullback to occur on the new candlestick before taking the trade.
That’s all we have for today’s analysis, do make it a date with us tomorrow for another technical analysis on the market.
Comment below if you have contrary views on the market or if our content has been on any use to you.
Do have a great day ahead
