EURAUD Daily Forecast ✍️📈

EURAUD Daily Analysis & Trade Setup 📊✍️

Overview of the Chart:

This is a daily chart of the EUR/AUD pair, showing a recent strong bearish move. The price has dropped significantly and is currently testing a key support zone (FVG – Fair Value Gap).

Key elements in the chart:

• MSS (Market Structure Shift): Indicates a structural change in trend.
• SSS (Sell-Side Liquidity Sweep): Suggests that liquidity has been taken out from lower levels.
• FVG (Fair Value Gap): Marked as a potential area where price might react.
• Projected Bullish Reversal: The chart suggests a possible bullish move from this zone.

Trade Setup Idea 📈

Scenario 1: Bullish Reversal from FVG

🔹 Entry: Look for bullish price action (e.g., bullish engulfing, pin bar) around 1.6250 – 1.6350 (FVG zone).
🔹 Target: Initial TP at 1.6600, extended TP at 1.6800.
🔹 Stop Loss: Below 1.6200 (below FVG).
🔹 Confirmation: Look for a lower timeframe break of structure (BOS) to confirm reversal.

Scenario 2: Further Bearish Breakdown

🔹 If price fails to hold the FVG zone and breaks below 1.6200, expect further downside.
🔹 Next Support: Around 1.6000 – 1.5950.
🔹 Short Setup: Wait for price to retest the broken support as resistance before entering a short position.

Conclusion:

👀 Watch the FVG zone closely—a bullish reaction could signal a strong buy opportunity. However, a breakdown below would invalidate the bullish setup and open the door for more selling. 🚀📊