TradingHarmony

EURAUD Short after break and close from range plus Fib

Short
FX:EURAUD   Euro / Australian Dollar
EURAUD broke and closed from a month long range plus would appear to be the dropping point after a recent Fib retracement up past the 61% but not breaking the 76% which starting on 25/4 with the low on 4/6. RSI is also showing a much lower reading than previous similar PA levels. Due to the long candle on Friday, SL would be large at around 150 pips but the first profit point would be 1.5290 for 300 pips and the final exit at the 27% Fib extension coming in around 1.5040.

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