FX:EURAUD Euro Fx/Australian Dollar
A has formed on the EUR/AUD . The current price has moved to the projected line of 1 through 4 falling back into the entry zone nicely. Look to enter the trade when price falls to the 127% retracement of point 3 to 2 @ 1.56191 with a stop of 1.57955 and a conservative target of 1.47372. Presenting an opportunity with a Risk/Reward ratio of 1:5. Notice the spike as wave 5 moves to completion.