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Tickmill
Jan 19, 2018 5:34 AM

EURAUD testing major support, could be seeing a bounce! Long

Euro Fx/Australian DollarFXCM

Description


EURAUD is now testing major support at 1.5267 (Fibonacci retracement, horizontal swing low support, pullback to descending support) and a bounce could occur at this level to push price up to at least 1.5354 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (55,5,3) is seeing major support above 2.8% and a corresponding bounce could occur at this level.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Comments
Aqua_Trader
agree on the bounce, you're also seeing a nice inverse h&s
Frannel_Franco
Good Trade
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