EURAUD Analysis 21.10.2019

The overall movement is upward. An H2 level downward pattern is turncated. An intermediate round level of 1.6250 holds back sellers. Also, a bullish divergence has formed on Awesome Oscillator indicator, and Stochastic Oscillator showed an exit from the oversold zone. The completion of the downward pattern of the H2 level will provode an opportunity for the continuation of the bullish trend.

Trading recommendations:

Buy strictly while an ascending wave pattern is forming, where wave A breaks through the inclined channel of the descending H2 level pattern.

Stop Loss – 1.6250 or under the local minimum.

Target levels – 1.6366; 1.6430.