As per my previous EurUsd analysis. I am now looking for longs across the EUR board because the fundamental situation lightened up, and in my view a turnaround for the days to come is in the making.
I have been watching EurAud for quite a while and i like this oversold setup here.
I bought at 1.3705 with a relativley tight stop for the volatile euraud at 1.3650.
I am targeting 1.39 and if the momentum is strong maybe 1.40
Its a little bit of an aggressive entry if you like a more conservative approach you can wait for lower prices around 1.3680 and enter, risking less pips. In any case use proper risk/money management and dont risk much on one trade.
One more suggestion: If you look at the lower timeframes maybe something like this will form a consolidativ phase in the asian session, that gives you more confidence that the market will continue tomorrow in the London session.
Blessings to you all
I have been watching EurAud for quite a while and i like this oversold setup here.
I bought at 1.3705 with a relativley tight stop for the volatile euraud at 1.3650.
I am targeting 1.39 and if the momentum is strong maybe 1.40
Its a little bit of an aggressive entry if you like a more conservative approach you can wait for lower prices around 1.3680 and enter, risking less pips. In any case use proper risk/money management and dont risk much on one trade.
One more suggestion: If you look at the lower timeframes maybe something like this will form a consolidativ phase in the asian session, that gives you more confidence that the market will continue tomorrow in the London session.
Blessings to you all
Trade closed manually:
To follow up on this idea.
I dropped this position a few minutes ago for a small 10 pip loss, i am not liking the price action.
Tonight we rallied higher for about 60 pips and then we came all the way down so this is a negativ.
And i am not really seeing any buyers as i would like. So i prefer to get out for now.
There are better pairs to trade. Counter Trend is always difficult.
Blessings to you all.
I dropped this position a few minutes ago for a small 10 pip loss, i am not liking the price action.
Tonight we rallied higher for about 60 pips and then we came all the way down so this is a negativ.
And i am not really seeing any buyers as i would like. So i prefer to get out for now.
There are better pairs to trade. Counter Trend is always difficult.
Blessings to you all.
