The EURAUD traded in a tight range since the 8th of July, I was waiting for the market to break the range before looking for any trade opportunities, and it just happened (helped by yesterday’s fundamentals):
My trading plan for the EURAUD is to look short opportunities as long as it trades below the 1.3137 level. Its important to notice that it is also trading below every important level on the short term charts, we only need a significant pattern with downward pressure to go short.
The next LT support level is at 1.2950
Tags: EURAUD analysis