Hi Traders,
Here is some idea on EU.
Latest 4h trend is showing price rejection.
The descending triangle pattern in chart shows potential direction of short to 1.079.
Thank you.
As AUD has been in down trend for long time, I think the bullish move is only a temporary.
Let’s wait for bearish confirmation.
Position 1:
Entry: 0.61517
TP 1: 0.60304
SL 1: 0.62257
Wait for break support at 0.6 + bearish confirmation
Position 2:
Entry: 0.59964
TP 2: 0.55814
SL 2: 0.60704
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The analysis above are...
Look for confirmation in shorter time frame, ie. bullish flag.
Take 2 positions for 2 target profit.
Take Profit 1 = Previous resistance line, 1% profit
Take Profit 2 = 3% profit
Stop Loss = support line