vj20_fx

Trading the trend

Long
FX:EURAUD   Euro / Australian Dollar
On this pair, we have a bearish trend with some strong bearish movement and bullish retracements. I am uncertain that the trend will continue as it has not created a lower low but instead bounced off the .786 Fibonacci support. I am quite certain price may rise if still following trend and if not it will create a new high to begin an uptrend. Either way, I believe price will be rising. I will be in a long position till price meets trend however it could potentially rise higher.

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