EURAUD has been trending in a bullish channel for quite some time now,
points favoring bulls :
Series of Higher Highs and Higher Lows.
Bullish Trend in daily and weekly.
Divergence occurred at 1 hour and 4 hour , which btw has played out, and helped in retracement of the pair.
My plan is to go long on this
Entry at CMP : 1.65565
SL 1.64350 (below an imp support zone )
TP 1 : 1.66531
TP 2 : 1.67846
Point of concern is the sentiment which is short on this pair, But as the saying goes 'TREND IS YOUR FRIEND' ill be buying this pair.
points favoring bulls :
Series of Higher Highs and Higher Lows.
Bullish Trend in daily and weekly.
Divergence occurred at 1 hour and 4 hour , which btw has played out, and helped in retracement of the pair.
My plan is to go long on this
Entry at CMP : 1.65565
SL 1.64350 (below an imp support zone )
TP 1 : 1.66531
TP 2 : 1.67846
Point of concern is the sentiment which is short on this pair, But as the saying goes 'TREND IS YOUR FRIEND' ill be buying this pair.
Comment:
SL hit trade closed