EURAUD - LONG SETUP

Hii everyone 🙂 EURO does suggest incoming buying power on the higher time frames as the weekly price action passed above MA's of 20/50 and 100 which is a great sign already. We have crossed MA 200 on the 4-hour and we also have a bullish engulfing candlestick closure bouncing of MA 20 to confirm our entry. Both currencies are being bought by the hedge funds. However, it's important to note that President Lagarde's speech at 6 p.m. today could significantly impact this trade. 😊