The single currency baskets highlight buying dips in EUR and selling rallies in AUD. This correlation suggests buying dips in EUR/AUD.
Bespoke support is located at 1.6210 and 1.6188. Bespoke resistance is located at 1.6430. Price action has formed a bullish Ending Wedge pattern. This formation has a measured move target of 1.6802. Projecting a 261.8% extension level from our bespoke system highlights a 261.8% extension level at 1.6789. There is scope for mild selling interest, but I look for losses to be limited.
I am buying EUR/AUD at 1.6210
SL: 1.6110
TP1: 1.6788
Risk/Reward Ratio of 5.78R
#tradeplan #EURAUD
Bespoke support is located at 1.6210 and 1.6188. Bespoke resistance is located at 1.6430. Price action has formed a bullish Ending Wedge pattern. This formation has a measured move target of 1.6802. Projecting a 261.8% extension level from our bespoke system highlights a 261.8% extension level at 1.6789. There is scope for mild selling interest, but I look for losses to be limited.
I am buying EUR/AUD at 1.6210
SL: 1.6110
TP1: 1.6788
Risk/Reward Ratio of 5.78R
#tradeplan #EURAUD