EUR/AUD Price Analysis: Bulls seek a bullish extension towards 1.6450s
|- EUR/AUD bulls are on board as price moves into technically bullish territory.
- A 1:3 risk to reward prospect has been established from the daily and 4-hour analysis.
Further to the start of the week's analysis for the cross, EUR/AUD Price Analysis: Bullish prospects for upside extension, the price action has triggered an entry.
The following illustrates how the price action has evolved and where a 1:3 risk to reward high probability trade setup was established from a 4-hour time frame.
For a recap, the daily chart offers a bullish scenario while above support with prospects of an extension of the prior bullish breakout.
Daily charts
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(07/12/20)
(08/12/20)
4-hour charts
(07/12/20)
(08/12/20)
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