EURUSD as a major pair led to a rejection of EUR on a very long trendline. EUR became bearish on a lot of pairs EURAUD included. What is particularly exciting on EURAUD is the fact that this is the place where 200 MA daily meets low volume area. There were 5 previous rejections from this level in the past 30 days and two of them were in the recent days coming to this level.
• I would like the price to reach once more for 200 MA daily
• If there is a reaction on lower timeframes, I will start shorting.
• I am not that keen on opening 1.5 RRR only. This is a downside to this pair not only that the relative volatility is very low, but the downside room is a little limited too. However, if EURAUD goes a little higher retesting 200 MA, it should be a good short opportunity.
Have a great trade!
• I would like the price to reach once more for 200 MA daily
• If there is a reaction on lower timeframes, I will start shorting.
• I am not that keen on opening 1.5 RRR only. This is a downside to this pair not only that the relative volatility is very low, but the downside room is a little limited too. However, if EURAUD goes a little higher retesting 200 MA, it should be a good short opportunity.
Have a great trade!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.