EURAUD: Strong Supports; Ready for Bounce?

EURAUD
Timeframe: 1D
Direction: Long

Confluences for Trade:
- Stochastic Overbought momentum
- Too wide of a divergence for 8 EMA and 50 EMA
- Price close to Strong Horizontal Support (since Feb 18)
- Price close to a Support Trendline (previously resistance; since March 18)

Suggested Trade:
Entry @ Area of Interest 1.5610 - 1.5670
SL: 1.5542
TP: 1..5884
RR: Approx. 2.89 (Depending on Entry Level)


May the pips move in our favor! Good luck! :D

*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.

أغلقت الصفقة: تم الوصول لوقف الخسارة:

The sudden Brexit news of two ministers resigning caused a sudden drop in the EUR. EUR has since recovered but our position hit the stop first.

The trade setup is still valid if still interested.