The weekend is closing in on us, and I've been scrolling through the graphs to find an opportunity. Through the 100eyes Forex Scanner I got alerted just when I was about to give up.
Here on EUR AUD we can see two important horizontal zones forming. The upper one that has acted both as support and resistance, and the lower one that is purely support.
Since the price has reached support and showed an early sign of a bounce, I think this is a great buy opportunity. Stop Loss is best set slightly below the support area.
Remember for weekend gaps to *always* use a guaranteed stop. Guaranteed stops will be filled at the price of your stop regardless the open close gap after the weekend. Many things can happen during such a long time, so make this a habit.