dramadon

EURAUD Long, Countertrend?

Long
FX:EURAUD   Euro / Australian Dollar
Overall bias is bearish but I feel like this wouldn't be a bad counter trend trade. Looks like price is transitioning over to an uptrend on lower TFs so we can look for buyers to enter the market here. If price breaks the 38.2% PRZ the next target is 61.8%. Im not exactly in just yet, I want to see price pull back a bit more to give me the best risk to reward on this setup.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.