themarketzone

3 trading scenarios on EURAUD

FX:EURAUD   Euro Fx/Australian Dollar
$EURAUD is testing its uptrend line after declining from the 1.6 weekly resistance zone .
As long as the uptrend line holds, there's a chance for another bullish pullback.
Notice that despite making lower low and keeping the uptrend line, $EURAUD didn't create lower high on its last climb (sign of weakness)

Scenario 1- Buy the uptrend line and harmonic confluence zone ( bullish ) towards 1.52
Scenario 2 - Sell the trend line breakdown below 1.45
Scenario 3 - If EURAUD             will follow scenario 1, 1.51-1.52 will be an interesting sell zone to monitor and trade. Look for weakness signals on smaller time frames

Tomer, The MarketZone
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Comment: About to reach bullish target zone - Monitor for bearish continuation
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