After rallying for +160 pips in the last 24 hours, i expect price to retrace a little bit.
I think we just completed wave-iii and will soon wave-iv correction.
If price retrace towards 1.5825 we will initiate our buy. This is where 50% fibonacci retracement of wave-iii located. It offers a good RR trade setup.
Buy EURAUD 1.5825
Stop loss 1.5785
Take profit 1.5945 (3R)
Use only 1-2% risk
Good luck
