EURAUD Long Idea

30 Des 2018

Overall uptrend, a solid trend that has been in the run for a long time. Recently, this pair consolidated for a long time so we can only speculate that this is the market taking on orders, and lack of volatility over christmas. HH and HL's plus a recent touch of the ascending trendline say to me that we are going upward once we break the 1 hour yellow zone above current price. On the daily, price has printed a doji candle with a long downward wick, so will need to be wary of this, we are also approaching a strong resistance area so we could see a reversal, but short term we are still upward.