EURAUD currently facing a small RESISTANCE between the price of 1.59356-1.59783. If you look at the above chart you can see there is a triangular pattern formation. If you look at candle near the RESISTANCE area you an see 4 small candle and a big BULLISH candle, which covers all the previous candle. There is a HIGH chance of giving a up side breakout by next week. In case if it respect the RESISTANCE are then it can fall till the blue TRENDLINE that I have drawn in the chart.
MY OPNION- One can take a LONG POSITION by putting a STOPLOSS below the blue TRENDLINE that I have drawn in the chart.
NOTE
ENTRY-1.58000-1.59500
STOPLOSS-1.56000 (Adjust it as per the blue TRENDLINE if it goes up)
1ST TARGET-1.62500
2ND TARGET-1.67950
MY OPNION- One can take a LONG POSITION by putting a STOPLOSS below the blue TRENDLINE that I have drawn in the chart.
NOTE
ENTRY-1.58000-1.59500
STOPLOSS-1.56000 (Adjust it as per the blue TRENDLINE if it goes up)
1ST TARGET-1.62500
2ND TARGET-1.67950
Comment:
IGNORE SOME GRAMMAR ERROR :(