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Long: EUR/AUD: Is it getting ready for more bullish moves?

EUR/AUD made a strong bullish move yesterday. The 4h chart shows that the price after having a bounce at a level of support of the flag pattern it has been heading towards the North. The way it has been heading towards the North, it might make a breakout upward out of the channel.

Flags form when the market retraces during trending conditions and are used as trend continuation patterns.The counter trend movement creates a small channel, when price breaks the channel in the direction of the trend, the continuation trade is triggered.

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28 Nov 2019 3:31 pm Posted by admin