EURAUD Long
EURAUD is in a overall downtrend. Price is at a major support level 1.57500. I'm expecting price to reverse at a key resistance level. I'm expecting the bulls to take control and I'm expecting market price to rise and take out some highs. My first take profit is at weekly resistance level 1.58200. My second take profit is at weekly resistance level 5.900. And my third take profit is at level 1.59600.Price is oversold bears are showing weakness. Price reacted off the 0.786 retracement levels on the fibs. I expect for the bulls to start off strong the beginning of the week.
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