vj20_fx

Break back through Major Zone

Short
FX:EURAUD   Euro / Australian Dollar
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4
EURAUD has now reached a major resistance level and has managed to break through. Price has now entered a short consolidation period where price will then break back through the zone because I don’t believe the Euro is that strong. The strong bullish momentum that has happened lately is only due to the weakness of the Australian Dollar. I will be entering this trade once I see a bearish candlestick close below the zone. On this pair, I have 3 targets due to the strong supports that are coming. I will watch this pair very closely setting alerts on each support line to watch how price reacts.