#EURAUD:Bullish Bias —Momentum Could Offer Buying Opportunity EUR/AUDOANDA:EURAUDSetupsfx_ 🔺EUR/AUD maintains a bullish outlook as buyers remain active near the recent support level. The price is forming higher lows, indicating buyers are entering at progressively higher prices and maintaining a constructive market structure.As long as this structure holds, further upside is likely. However, traders should avoid chasing price after a strong rise and wait for a controlled pullback. Potential Trading Scenario The preferred scenario is for EUR/AUD to retrace towards the nearest support or demand zone. If buyers defend this area, it could offer a better entry point into the overall bullish trend. Confirmation signals include: - A strong bullish rejection candle from support - Price failing to close below the support zone - A lower-timeframe shift back to a bullish structure - A breakout and successful retest of short-term resistance Upside Targets - The previous swing high serves as the initial potential target. Traders might consider taking partial profits around this level due to potential short-term selling pressure. Additionally, two take profit targets are marked as horizontal lines. - Always set the take profit target as the first and as the price approaches the first target change it to the second. Remember to adjust the stop loss at the same time. Bullish Invalidation - The bullish outlook weakens if EUR/AUD closes below the latest higher low or key support area. This suggests buyers are losing control and a deeper correction might be developing. - A temporary move below support isn’t always enough to invalidate the setup. Traders should watch the candle close and whether price quickly recovers above the broken level. Fundamental Risks EUR/AUD can be highly volatile around: - Traders should review the economic calendar before entering trades and manage risk around significant announcements. The overall market sentiment remains bullish with EUR/AUD above support and forming higher lows. A preferred strategy is to wait for a pullback, seek clear bullish confirmation and target the previous high followed by the next resistance level. This approach is supported by decisions from the European Central Bank and Reserve Bank of Australia. Eurozone and Australian inflation reports should also be monitored. If you like our idea then consider liking and commenting on this idea as this will help us to post such more trading ideas. ❤️🤝 The Setupsfx_ Team