EURAUD potential long
After a false breakout of the weekly ascending trendline, price bounced off the 50% retracement and continued upward to create new highs. Now we are seeing yet another pullback. I am looking for a retracement to the 61.8 level highlighted in blue, which will also be another retest of the ascending trendline and a retest of the previously broken counter trendline. If price has a strong reaction to this level, it is very possible to see a retest of the current highs and potentially create new highs.
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.