Fundamentals:
1. With Russia invading Ukraine the euro has taken a moth long nose dive without a retracement I think this is the time that the retracement will happen.
2. With Gold being a safe haven the AUD which is backed and correlated with gold seems to be gaining value for now.
In unison, this pair being traded with less volume takes more severe trends than one with more volume.
Technicals:
1. 61.8% Fibo
2. daily support
3. Rsi divergence
4. awaiting price action to lunch official trade of a buy for possibly 350~ pips
After which I expect the euro to then sink due to the war of course until the war/invasion is done for months to come.
1. With Russia invading Ukraine the euro has taken a moth long nose dive without a retracement I think this is the time that the retracement will happen.
2. With Gold being a safe haven the AUD which is backed and correlated with gold seems to be gaining value for now.
In unison, this pair being traded with less volume takes more severe trends than one with more volume.
Technicals:
1. 61.8% Fibo
2. daily support
3. Rsi divergence
4. awaiting price action to lunch official trade of a buy for possibly 350~ pips
After which I expect the euro to then sink due to the war of course until the war/invasion is done for months to come.