(EUR | AUD) Forex Trading Analysis Today Forex Forecast | OCT 21, 2024 | EURAUD Analysis

Forex Trading Analysis

Hello Guys today is Monday October 21st 2024 I am going to analyze Euro AUD currency pair let us start with Eli wave analysis from higher to lower time frames inside the daily time frame the trend is up in Euro HP support on the daily chart is present at 1.5 996 price level the price action of Euro AUD is most likely going to move sideways to create bearish wavex pullback next price action is most likely going to rise up to print bullish Wave by double zigzag Eliot wave pattern in coming trading days uh decisive B bearis break below 1.5 996 support area will suggest the end of an uptrend on the daily chart of the euro versus Australian dollar currency pair

At 4Hour time frame price action manages to break below the most recent swing low to Euro HUD pair Trend looks sideways in 4Hhour time frame

At 1 hour time frame the trend is up in 1 hour chart intraday support is present at 1. 16085 high price level I expect the price action to rise and print bullish with five impulse leg which offers a chance to join an uptrend in Euro Australian dollar pair a decisive bearish break below 1.1685 support level will confirm the end of an uptrend in 1 hour chart of the Euro versus Australian dollar currency pair

More specific the area highlighted in green color offers a buying opportunity which is the previous third VI one lesser