EURAUD Let price action take control
Expecting some sort of consolidation within this tight range in regards to fundamentals between both AUD & EUR as these can be mixed results with both forecasting negative yet positive for different aspects.
Expecting price to reach towards 1.604 before we see anymore buy sensitivity as aggressive as we have experienced during the recent uptrend before it broke.
In addition, our 200 & 50 moving averages could cross at this potential entry, validating this decision to go long. Reason for this area to be chosen for an entry is because we can see on the daily chart of this pair that a break & retest is occurring between 1.604 (resistance turned support basically)
Expecting price to reach towards 1.604 before we see anymore buy sensitivity as aggressive as we have experienced during the recent uptrend before it broke.
In addition, our 200 & 50 moving averages could cross at this potential entry, validating this decision to go long. Reason for this area to be chosen for an entry is because we can see on the daily chart of this pair that a break & retest is occurring between 1.604 (resistance turned support basically)
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