EURAUD Possibly breaking key level 1.6300 and going above furthe
The price of EURAUD has been under the key level 1.6300 for quite some time now. Recently, the price tried to push lower but now we can see that it was a fake move to the down
to bring in more sellers into the market before going higher. Thus, i am expecting the price breaking this key level and push higher for these reasons:
1. Price tried to push lower but came back inside the mini support zone and currently testing the key level of 1.6300
2. That fake move to the down was to bring in more sellers, hunt the eager buyers' stop losses.
So, in order to make sellers who sold after the fake broke below the mini support zone lose money, the price shouldn't come back to the area where their sell orders were triggered, thus the reasoning behind my stop loss placement.
Let's see what happens.
to bring in more sellers into the market before going higher. Thus, i am expecting the price breaking this key level and push higher for these reasons:
1. Price tried to push lower but came back inside the mini support zone and currently testing the key level of 1.6300
2. That fake move to the down was to bring in more sellers, hunt the eager buyers' stop losses.
So, in order to make sellers who sold after the fake broke below the mini support zone lose money, the price shouldn't come back to the area where their sell orders were triggered, thus the reasoning behind my stop loss placement.
Let's see what happens.