EURAUD SHORT UPON BREAK OR AFTER PULLBACK
Price broke the long term ascending daily trendline and has retested the it as well as the 50ema & 61.8 fib.
Currently price is sitting at support/demand zone so a pullback to 1.53137 (23.6 fib) may provide the opportunity to short.
However, a lower low is likely to be made, therefore shorts will be considered upon a break and retest of support at 1.51654.
Initial short target will be the -27 fib extension with is confluent with major historical support and resistance at 1.5000/1.5020, in addition to the 200ema.
Currently price is sitting at support/demand zone so a pullback to 1.53137 (23.6 fib) may provide the opportunity to short.
However, a lower low is likely to be made, therefore shorts will be considered upon a break and retest of support at 1.51654.
Initial short target will be the -27 fib extension with is confluent with major historical support and resistance at 1.5000/1.5020, in addition to the 200ema.
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