EURAUD developing into a nice trading oportunity
Updated
Hello Traders. Hope you are doing well.
On EURAUD we have a setup that might be very profitable in the next few days. As I am seeing, the pair is bellow a trend line resistance and if it breaks that resistance it has potential for a move towards 1.64 even 1.6450. That is more than 150 pips for the trade.
The other scenario, resistance holds and the Australian dollar goes towards the 1.60 area against the euro. This is also a good trade with around 200 pips.
My personal opinion is that it has higher chance for the upside, however I will not enter in the trade unless price action confirms any of the scenarios presented above.
Share your toughs and Ideas in the comments. Let's grow together!!!
Good luck out there.
On EURAUD we have a setup that might be very profitable in the next few days. As I am seeing, the pair is bellow a trend line resistance and if it breaks that resistance it has potential for a move towards 1.64 even 1.6450. That is more than 150 pips for the trade.
The other scenario, resistance holds and the Australian dollar goes towards the 1.60 area against the euro. This is also a good trade with around 200 pips.
My personal opinion is that it has higher chance for the upside, however I will not enter in the trade unless price action confirms any of the scenarios presented above.
Share your toughs and Ideas in the comments. Let's grow together!!!
Good luck out there.
Note
Price jumped above the zone then it retraced and now the resistance turned support it gives signs of pushing the price up. I will open buy with stop loss at 1.6230 and take profit at 1.64. Cirent price 1.6246Note
Another successful trade on EURAUD. Target achieved 154 pips.
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