EURAUD 1h bounce on monthly sup/res Long

Euro Fx/Australian DollarFXCM

Description

⋅ Jul 16, 2015 7:49 PM

Although the pair is trading below 300-MA and MACD is bearish, I cannot ignore the bounce on the well-defined support/resistance level. Going for a high-reward/low-risk trade, which can be improved, if you pick the resistance at 1.5050.