Potential to long EURAUD and keep riding the current bullish trend.
Consecutive higher highs and higher lows being made. The bottom trendline has held strong with the 4hr 50EMA
Looking for a new higher high and targeting the -0.27 fib extension for target profit 1.
If this level breaks then the larger fib extension could be reached for over 5:1 RR
EURAUD LONG
TP1: 1.62715 (50pip)
TP2: 1.62939 (70pip)
TP3: 1.63298 (110pip)
ENTRY: 1.62198 to 1.62310
Plan: This potential move is subjective to the price when the market opens today.
Looking for entry when the price reaches between 1.62198 to 1.62310. Will hold 3 positions for this pair. Once TP1 is hit will move SL to entry for remaining positions.
We can see the pair respecting the wedge formation over the last days and this will continue. Buy low and aim for the Highs. Allow a good SL outside of the wedge for brexit events causing EUR fluctuation.
If your interested in our service providing
Premium Signals.
Analysis with breakdown and forecast.
Education with generic and our own trading method.
24hour...
The Euro vs. the Australian Dollar. This pair is considered to be a great barometer for global risk. In 2012, during the European sovereign debt crisis the EURAUD reached its low. Since then, due to the European Central Bank’s policy of Outright Monetary Transactions (OTM or the “whatever it takes” measure ) the pair has recovered substantially.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
