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GrizzlyBearBee
Oct 5, 2020 7:40 AM

EURAUD Bullish Idea Long

EURO / AUSTRALIAN DOLLARICE

Description

The pair might attempt to go higher.

  • From last week's CFTC COT Report shows that EURO FX futures remain largely bullish with 187k net positions while AUD futures saw close to 3k long positions being closed - Net positions are at 6.7k.

  • From a technical perspective, price is currently at the 0.5 Fibonacci level. Price action on the lower timeframes indicate that price might reject the level upwards.
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