EURAUD@ Bullish Butterfly Completion At Key Support Level

Price in EURAUD is moving in a corrective structure since end of August. It's now testing a key support level (long term support trendline, bottom channel trenline), where we can see a bullish butterfly pattern having formed. In addition looking to the RSI it's clear that we have a bullish divergence, something that adds to our decision to go long. Overall trend is an uptrend.

I suggest entering with two positions. If price reaches the first target we should move stoploss of the second to breakeven.

Long term support trendline:

Like and comment,
John.

Trade geschlossen: Stop wurde erreicht