EUR AUD Thursday (Weekly Cycle Analysis)
Monday looks like a fake move beginning of the week to get traders to go one direction.
Wednesday we had a mid week reversal which appears to be holding.
Today we are looking for LONGS only on EURAUD. Target is 1.66500
There is also a chance that today they will drop to grab the lows set during London and maybe Asia and then finish the move by the end of tomorrow.
Wednesday we had a mid week reversal which appears to be holding.
Today we are looking for LONGS only on EURAUD. Target is 1.66500
There is also a chance that today they will drop to grab the lows set during London and maybe Asia and then finish the move by the end of tomorrow.
Trade closed: target reached:
Given the fact that they took out 1.66500 today, there is a chance that tomorrow they will consolidate and trap people. I would not be looking for longs tomorrow..