Here we have EURAUD on the Daily time frame. Last week we saw price break out of a long term bullish channel and find some solid support around the 1.56 region which has acted as strong support in the past.
I see price heading back towards the upside this week to retest the 1.58-1.59 region before heading back south.
We could see price reject off of either the 50% or the 61% region. Both can be recognized as strong resistance areas in the past.
Im ultimately aiming for price to reject off of either level said above and then heading back down to reach the -27% which falls in line exactly with quarter level 1.55.
Trade at your own risk. I am not qualified to give investment advice.
Happy trading :)
~TraderTrev
I see price heading back towards the upside this week to retest the 1.58-1.59 region before heading back south.
We could see price reject off of either the 50% or the 61% region. Both can be recognized as strong resistance areas in the past.
Im ultimately aiming for price to reject off of either level said above and then heading back down to reach the -27% which falls in line exactly with quarter level 1.55.
Trade at your own risk. I am not qualified to give investment advice.
Happy trading :)
~TraderTrev