EUR/AUD Isn’t Bullish – Bears Should Win This Time

Nenad Kerkez
Published: Oct 26, 2021, 10:44 GMT+00:00

The price is still in downtrend.

EUR/AUD Isn’t Bullish – Bears Should Win This Time

In this article:


EUR/AUD Technical Analysis

  • The market is still bearish
  • The break of 1.5440 will mark the continuation
  • Selling the rallies is possible


  1. Order block zone
  2. Breakout
  3. Order block 2
  4. Downside target
  5. Descending Trendline

The price is still in downtrend. There are signs of possible continuation after some retracement up. The price has already broken below the point 1 on the chart which is a sign of a downtrend continuation. However, the problem is a possible false breakout. At this point, the downtrend is still very visible so, selling into rallies is still the valid scenario. Target for the move down is 1.5393. If the price moves back to 1.5440, breakout lower is expected again. Only the break of the descending trend line could start a deeper retracement on intraweek scale.

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Cheers and safe trading,



About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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