EURAUD SHORT
All key levels have been identified. Previous trade I posted of AUDCAD shorts was executed to perfection. Moving on to EURAUD here, the 1.632 level looks promising as well with beautiful rejection and alternation between S/R. The second entry if somehow this level fails would be the 1.643 zone where a longer-term move can be anticipated. A low-risk trade with huge potential to the downside in a medium-term swing to 1.597 area. 3 scenarios have been identified and color-coded from my perspective (blue arrow, green arrow, and purple arrow). As always, exhibit effective risk and money management and watch for any news. Leave any feedback, thoughts or suggestions below. Happy new year traders!
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