EURAUD | Perspective for the new week
Since the US Political Uncertainty that gave significant value to the AUD in the last couple of months has finally subsided, we are beginning to see traction in the value of the Euro since the Breakout of Key Level occurred on the 1st of December which has been followed by series of rejection which lasted a week plus.
Tendency: Uptrend ( Bullish )
Structure: Breakout | Supply & Demand
Observation: i. Since sellers were unable to push the price below AUD1.61300, it appears they have finally surrendered the momentum to the Buyers.
ii. Breakout of AUD1.6300 as rendered this level a new support level for future Buying power for the EURAUD.
iii. AUD1.6300 shall remain a yardstick for my buying options in the coming week(s).
Trading plan: BUY confirmation with a minimum potential profit of 300 pips.
Risk/Reward: 1:4.5
Potential Duration: 4 to 8 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Tendency: Uptrend ( Bullish )
Structure: Breakout | Supply & Demand
Observation: i. Since sellers were unable to push the price below AUD1.61300, it appears they have finally surrendered the momentum to the Buyers.
ii. Breakout of AUD1.6300 as rendered this level a new support level for future Buying power for the EURAUD.
iii. AUD1.6300 shall remain a yardstick for my buying options in the coming week(s).
Trading plan: BUY confirmation with a minimum potential profit of 300 pips.
Risk/Reward: 1:4.5
Potential Duration: 4 to 8 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Comment:
We are at a Demand zone @ AUD1.61300 looking for that engulfing candle for a signal!
Trade smart. Trade consciously