Navigating Euraud Price Dynamics: A Short-Term Strategy

Greetings,

Euraud is currently exhibiting intriguing price action, with a noteworthy trend on the daily timeframe, featuring consistent higher highs and higher lows.

My long-term outlook remains bullish, as long as the price doesn't breach the 1.6300 support level. At present, I am opting for a short position with a target of 1.6500, given the current elevated price. It's only when we witness a discounted price that we can anticipate buy interest to surge.

However, if the price pushes beyond 1.67100, my short-term stance will be invalidated, and I'll exit the trade.

Rest assured, I'm diligently managing my risk throughout this endeavor.

I'd love to hear your insights on this strategy—please feel free to share your thoughts below.