EURAUD: Broke resistance and this area should now act as support
EURAUD has broken the resistance zone. This resistance zone will show in a test whether it offers sufficient support to push the price higher. The best chance is to go with the trend and look for a possible buy option.
In my opinion, the best possibility for this buy is in the orange area between 1.6557 and 1.6516. In this area I will wait for a buy pattern on a smaller timeframe like 1 hour or 15 min. Only if this occur i will consider a buy. After this buypattern I will determine a stoploss level (1 x atr under the pattern)
The information is not an Financial Advice and I would recommend you not to rely blindly on my analysis. Always make your own analysis on which a buy or sell decision is based.
In my opinion, the best possibility for this buy is in the orange area between 1.6557 and 1.6516. In this area I will wait for a buy pattern on a smaller timeframe like 1 hour or 15 min. Only if this occur i will consider a buy. After this buypattern I will determine a stoploss level (1 x atr under the pattern)
The information is not an Financial Advice and I would recommend you not to rely blindly on my analysis. Always make your own analysis on which a buy or sell decision is based.
Trade active:
active @1.65702
sl @1.65191
risk/reward ratio: 9
sl @1.65191
risk/reward ratio: 9