This is a long signal

Yesterday I analyzed the EURAUD, and wrote about why I thought it was a good idea to look for long opportunities…

If you didnt read it, please take a look at it.

I was waiting for a small pullback, which is what we are getting right now. But what I like the most about this pullback is the significant upward pressure.

Here is the long signal:

EURAUD Long Signal

Focus in the green rectangle… it’s clear that the market doesn’t want to go down… I tried hard, but bull traders stepped in, forming a bullish pattern.

Plus the fact that the pattern is larger than previous candlesticks, makes this a good opportunity to go long.

I don’t like to trade at market, so I’ll use a buy stop order to enter the market at 1.3330

One word of cautious: Later today ECB President Draghi speaks… and you never know how the market could react.

Your Turn

Do you also think the EURAUD has bullish potential?

What do you think about this trade and about my trigger signal?

Let me know in the comment section.

EURAUD analysis, forex

Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .