EURAUD 4H possible longs for the week 11/12-11/17
EURAUD is currently in a pitchfork upwards trend. With the recent testing of a major support, the bottom trendline, and the 1.51074 fib price level last week I entered into a long and collected an easy 70 pips before exiting. With it approaching a minor resistance and the 1.52515 fib price level I expect it to either break the resistance and continue up to at least the 1.54350 price level or for it to bounce off the resistance and test any of the previous fib levels or the bottom support trendline before continuing its trend upwards. There are no continuation patterns on lower or higher timeframes so the first two days of the market opening will be critical in my decision to enter the long position.
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