EURAUD Waiting For The Short Opportunity...
From a daily perspective, we managed to see the candles rejecting the support level at 1.5270 level. Also, price failed to break lower than 361.8% fib level at the moment. We managed to see strong BULLISH pressure at the support area which I expect price to reach the supply zone (red zone). There is great BEARISH pressure at the supply zone as we can see moving averages, resistance level as well as fib level holding that price range. For now, entering a small short position will be a good option followed by increasing your position at the supply zone. Do note that for price level to reach the next fib level, we must see a strong BEARISH breakout, breaking the strong support area.
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