EURAUD 1D
As we can see the previous Daily High was broken with an impulsive bullish Momentum creating that new high.
Current price action is in a correction phase as we can clearly see the slow momentum retracing back into our highlighted VWAP to test the centre line and also our 71.00% & 79.00% fib levels.
We also have a heavy Daily Demand Zone too for added confluence.
Personally I think the EU News might help this trade play out.
Always wait for confirmation & be wary of the news!
Lets see how this plays out.
- The overall trend is bullish as price is clearly creating higher highs and higher lows, so this is our first steps in determine our bias for this pair.
As we can see the previous Daily High was broken with an impulsive bullish Momentum creating that new high.
Current price action is in a correction phase as we can clearly see the slow momentum retracing back into our highlighted VWAP to test the centre line and also our 71.00% & 79.00% fib levels.
We also have a heavy Daily Demand Zone too for added confluence.
Personally I think the EU News might help this trade play out.
Always wait for confirmation & be wary of the news!
Lets see how this plays out.