A beginning downtrend started a few days ago, price broke through and bigger timeframe key level (red line), we see the first retest of the line. The idea is to get a second retest to the line and then break through the countertrend. Target would be the next key level 1.4111.
I will update this idea when price moves
Long EURAUD:
1. Based on the last 16yrs of daily close data (since 01/01/2000 to date) EURAUD has a cumulative probability of a =>6th day lower at 0.87%, hence there is a implied 99.13% chance of reversal on the daily.
Trading Strategy:
1. Buy EURAUD at market in 1xlot, and add 2x on each daily close lower from here. Start in VERY small lots to reduce risk...