Copy of #EURAUD Price Holds Key Levels for Potential Trading Signal
- Chris Trader
- 3 days ago
- 2 min read
Market Structure
The overall structure remains bullish.
Key observations:
Strong impulsive rally from approximately 1.6200 to 1.6500.
Current move is a corrective pullback rather than a trend reversal.
Price is respecting the ascending channel.
The recent decline appears to have found support at:
Rising trendline
Dynamic moving average support
Minor demand zone
This suggests the market is attempting to resume the primary uptrend.
Channel Analysis
Price has pulled back to the lower half of the bullish channel.
The chart projection indicates:
Current bounce from support.
Small retracement.
Continuation higher.
Retest of upper supply zone.
As long as the lower channel boundary holds, bulls maintain control.
Key Support Levels
Immediate Support
1.6320 – 1.6340
Current reaction zone.
Buyers have already stepped in here.
Major Support
1.6280 – 1.6300
Strong demand area shown on the chart.
A break below this zone would invalidate the bullish setup.
Structural Support
1.6180 – 1.6220
Large institutional demand zone.
This is the last major support before trend structure changes.
Resistance Levels
Resistance 1
1.6400 – 1.6420
Recent swing highs.
Expect some profit-taking here.
Resistance 2
1.6480 – 1.6500
Highlighted supply zone.
This is the most important near-term target.
Resistance 3
1.6540 – 1.6570
Upper liquidity pool and channel resistance.
Likely institutional target if momentum accelerates.
Moving Average Structure
The moving averages remain positively stacked overall:
Long-term MA still rising.
Pullback has not broken long-term trend support.
Short-term MAs are beginning to flatten, indicating correction may be ending.
This is typically seen before trend continuation.
Quantflow Interpretation
The chart appears to show:
Pullback into demand.
Trendline support holding.
Liquidity resting above recent highs.
Projected path targeting supply around 1.6490.
This is generally a buy-the-dip configuration rather than a short setup.
Trading Scenarios
Bullish Scenario (Higher Probability)
Entry zone:
1.6330 – 1.6360
Targets:
1.6420
1.6490
1.6550+
Invalidation:
H4 close below 1.6280
Probability:65–75%
Bearish Scenario (Lower Probability)
Triggered if:
Price breaks below 1.6280.
Channel support fails.
Demand zone is lost.
Targets:
1.6220
1.6180
Probability:25–35%
Overall Quantflow Dynamics Rating
Bias: Bullish Continuation
✅ Uptrend intact✅ Pullback reached support✅ Ascending channel respected✅ Demand zone holding✅ Liquidity target remains above current price
Expected path: consolidation around 1.6330–1.6380 → push toward 1.6490 supply zone → possible extension toward 1.6550+ if buying pressure remains strong.
Chris
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