EURAUD is mid - term overbought.
Weak AUD news while EUR is more stable created this huge push.
Daily it is close to supply area. It needs to sell but perhaps from next week. Some round number like 1.59 or 1.6 could trigger big drop.
Different TP levels.
But 1.57 area is a great for long entries. The pair has already broken upwside of the bearish trendline and has retested it.
If it gives a decent deep it will be considered good buying chance.
Weak AUD news while EUR is more stable created this huge push.
Daily it is close to supply area. It needs to sell but perhaps from next week. Some round number like 1.59 or 1.6 could trigger big drop.
Different TP levels.
But 1.57 area is a great for long entries. The pair has already broken upwside of the bearish trendline and has retested it.
If it gives a decent deep it will be considered good buying chance.
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-81 pips