Hi there,
We have had a current downtrend on the EURAUD with multiple attempts to break the current downtrend.
Price has round key support at the 1.70162 area and has since formed a possible double bottom at this key level.
We will monitor the next attempt to break the trend line and wait a re-test, once a retest has occurred it gives a good buying opportunity I believe with a possible risk to reward ratio of 5:1.
Thanks.
Trade closed: stop reached