EURAUD Local S/R| Swing High| 200 MA| Price Action
Evening Traders,
Today’s analysis – EURAUD- trading above Local S/R where a back test is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support (.382 Fibonacci Confluence)
- Swing High Objective
- 200 MA Resistance
- RSI Bullish Control Zone
EURAUD’s immediate price action is impulsive above Local S/R, a bullish retest of this level is likely due to technical confluence with the .382 Fibonacci, this allows for a bullish bias.
Swing High is current objective, this will also take out 200 MA, increasing the probability of testing upper Local S/R.
The RSI is trading in its respected bullish control zone, remaining in these levels is critical in order to maintain strength in the market.
Overall, in my opinion, EURAUD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“Sheer will and determination is no substitute for something that actually works.” – Jason Klatt
Today’s analysis – EURAUD- trading above Local S/R where a back test is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support (.382 Fibonacci Confluence)
- Swing High Objective
- 200 MA Resistance
- RSI Bullish Control Zone
EURAUD’s immediate price action is impulsive above Local S/R, a bullish retest of this level is likely due to technical confluence with the .382 Fibonacci, this allows for a bullish bias.
Swing High is current objective, this will also take out 200 MA, increasing the probability of testing upper Local S/R.
The RSI is trading in its respected bullish control zone, remaining in these levels is critical in order to maintain strength in the market.
Overall, in my opinion, EURAUD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“Sheer will and determination is no substitute for something that actually works.” – Jason Klatt