Earlier this week I've traded with the Elite Zone a bullish Butterfly in EURAUD (goo.gl/fdGXJf) The position reached secondary target level today and now there's potential reversal zone based on structure and MAs. 1.57-1.58 is the resistance zone I'm referring to
With stop loss above 1.58 and above the daily Fast SMA, the first target level for this potential reversal will be the uptrend line (see green dashed line) that initiated this week's rally. Below this trend line, in case of a breakdown, the next target would be 1.5
I took the same long, above the previous daily high, and got out.
AUD looks fairly strong, same as NZD.
EUR too, but I wouldn't mix strong with strong...
Cheers!
AUD looks fairly strong, same as NZD.
EUR too, but I wouldn't mix strong with strong...
Cheers!