EURAUD Trade Idea 1207-1607
AUD was in high selling pressure last week since Tuesday as the market goes from risk on sentiment to risk off sentiment.
Price rebounded from 1.5620 till its near yearly high of 1.5970, but soon it was rejected since Friday Europe session.
Price likely to continues its bearish movement till Fib Level 0.618 (1.5760) previous support where buyer may step in to drive price higher.
Look for buy opportunity from 1.5800 and 1.5760 till previous high.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
Price rebounded from 1.5620 till its near yearly high of 1.5970, but soon it was rejected since Friday Europe session.
Price likely to continues its bearish movement till Fib Level 0.618 (1.5760) previous support where buyer may step in to drive price higher.
Look for buy opportunity from 1.5800 and 1.5760 till previous high.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
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