EURAUD just hit it's trendline support,
MEANING a bounce back is EXPECTED
Up to TP1 1.61200 - TP2 1.61900 - TP3 1.62600
WITH A STOP LOSS OF 1.59950
Let's wait and watch as it moves
Note past results don't give assurance to other trades
EURAUD has given a retracement on 4H after a strong market structure break to the up-side.
Aggressively, suitable entry is at CMP. however, do note a potential draw own to the 4H bullish order lock below price.
Conservatively, Enter a Buy on the OB of 1.6340 , SL at 1.6299 or 5Pips below SAID LEVEL.
Here is the key factor to keep in mind today for Euro trades:
German ZEW Survey and Eurozone ZEW Survey: The German ZEW Survey Current Situation Index for September is predicted at -15.0 and the German ZEW Survey Economic Expectations Index at -38.0. Forex traders can compare this to the German ZEW Survey Current Situation Index for August which was reported at...
EURAUD is bullish on H1, H4, Daily, and Monthly charts. We have a bullish butterfly formation but remember to look into the fundamentals for better decision on your entry choice.
Fundamentals to consider on EURO include; Services PMI and Composite PMI for Eurozone, Italy, France and Germany. Also Eurozone Retail Sales.
Fundamentals to consider on AUD include:...