Went long EURAUD.
Price has fallen into a demand area on the weekly and daily charts.
Yesterdays candle was a big Bullish momentum candle and today we have pulled back to a significant re-tracement level.
Would be great to see this back near 1.43
Things that would scupper the trade are news based. ECB could use QE and devalue the Euro by a few % . RBA could start being less neutral / dovish.
I'l move my stop to BE when we get into 1.42 area
Price has fallen into a demand area on the weekly and daily charts.
Yesterdays candle was a big Bullish momentum candle and today we have pulled back to a significant re-tracement level.
Would be great to see this back near 1.43
Things that would scupper the trade are news based. ECB could use QE and devalue the Euro by a few % . RBA could start being less neutral / dovish.
I'l move my stop to BE when we get into 1.42 area
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.