Daniel.B

Another break out trading setting up for the future.

FX:EURAUD   Euro / Australian Dollar
Well the chart explains itself, wrote some notes on it. S/R zones, with purple markers as pip differences measured between S/R areas. I'm short on a break and resest of the 61.8% Fib, and will look for a Long on a break and retest of 50% Fib (Which consequently if you look closely, the 200 EMA is sitting right on that resistance area , a break of that area and I will only look for long opportunities. Since price crossing back above the 200 EMA confirms a continuation of the bull trend) .

As always, use this analysis as a guideline if you may, to formulate your own trading plan on the pair. Cheers, happy trading =D