EURAUD LONG
Price bouncing off weekly support backed by the stimulus package coming from the EU.
Price has broken the 4hr 50ma. If price breaks into the area between the 50ma and 200ma, price will consolidate at this level for a whle before attempting the 1.70- 1.72 level.
If price breaks past the 200ma without consolidation, expect price to retest the green zone to an area where the 50ma is located before continuing upwards.
If price breaks below the 50ma, Price should attempt retesting the previous suport level.
Price has broken the 4hr 50ma. If price breaks into the area between the 50ma and 200ma, price will consolidate at this level for a whle before attempting the 1.70- 1.72 level.
If price breaks past the 200ma without consolidation, expect price to retest the green zone to an area where the 50ma is located before continuing upwards.
If price breaks below the 50ma, Price should attempt retesting the previous suport level.
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