EURAUD / long the strong support area with good risk/reward (5)
EUR/AUD is near strong support area after last small run from beginning of February (Australian economical data's supported the small up run)
Trend structure is still in uptrend and I expect an incoming inverse head and shoulder formation which is confirmed if price close above the drawn neckline.
You can open long from 1.578 down to 1.574 with more risk but also more reward.
RSI is near over sold I expect one more drop until trend reversal from down to up.
Good luck to all and have a good week !
Trend structure is still in uptrend and I expect an incoming inverse head and shoulder formation which is confirmed if price close above the drawn neckline.
You can open long from 1.578 down to 1.574 with more risk but also more reward.
RSI is near over sold I expect one more drop until trend reversal from down to up.
Good luck to all and have a good week !
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The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
