EURAUD( EURO/Australian Dollar) has been on a downward trend for a long time until the pair reached the 1.61181 and 1.60750 Zone. Price bounced at this zone forcing the market to create a lower high on 1.63649 and 1.63306 zone.
We saw the market going down to the 1.60750 zone on the 8th of June failing to close below the zone. On the 9th, the price went up Until the market broke the 1.63306 zone. We waited for price to come back to the broken zone and we expecting to see buyers coming in here, forcing price to continue going up. The market failed to break below 1.63306 on the daily, the whole of last week.
So this week I’m Expecting to see the price go up(bullish). I’m looking for an entry at 1.63649 with a stop at 1.62451 and my take profit at 1.65291.
We saw the market going down to the 1.60750 zone on the 8th of June failing to close below the zone. On the 9th, the price went up Until the market broke the 1.63306 zone. We waited for price to come back to the broken zone and we expecting to see buyers coming in here, forcing price to continue going up. The market failed to break below 1.63306 on the daily, the whole of last week.
So this week I’m Expecting to see the price go up(bullish). I’m looking for an entry at 1.63649 with a stop at 1.62451 and my take profit at 1.65291.