EURAUD 1D - long signals then potential Butterfly

FX:EURAUD   Euro / Australian Dollar
54 0 1
Why long?
  • breakout of grey box - its up line will act now as kind of S/R (support resistance)
  • this place was also 161.8% fibo (red AB)
My idea is
  • price will go to another fibo level (result of measuring orange XA)
  • pullback to S/R
  • up to D point of butterfly
  • then down for a while but no further than c.a. 1.45
Previously my idea was short, but we went to far to north... :) so I changed my mind...
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