EURAUD / H1 / Daily Forex Technical Analysis / 5.22.2019

Hello Traders, welcome to the Daily Forex technical analysis. Today is May 22nd, 2019 and we will be taking a look at the Euro against the Australian Dollar. Looking at the 1 hour time frame we were looking for price action to retest the local highs near the 1.62442 resistance area. And it did, Entry for a Short position near the 1.62357 area, with a Stop Loss near the 1.62588 region, and a target profit level area of 1.61689 would possibly ensure a profitable trade with a 2.89 to 1 R/R.