EURAUD Short Scenario
- Entry - In the supply zone
- Target - 1.45680
- Invalidation - 1.48820
- Risk to reward ratio - 8
Technical confirmations - Full cycle of Elliot wave impulsive part is done and now the corrective part(ABC) needs to be finished towards C. Price has reached the supply zone forming the B wave.
Technical confirmations - Unemployment report in Australia comes on Thursday. The market consensus stands at 35.0 thousand for August, which would be a huge rebound after the -40.9 thousand reading in July.
- Australian GDP grew by 0.2 percent in Q2 2022, from 0.7 to 0.9.
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