EURAUD - Short

3 de mai. de 2020

Quite an interesting pair to start with this week as it presents multiple options for us, to stay in line with other pairs on the watchlist this week we do favour the long, but the EUR is far from the strongest currency at the moment and may go either way. Let’s focus on the long, we broke some key levels after seeing rejection from 1.6580. the pullback has taken out a previous support region and from the looks of the lower timeframes it looks like we have already witnessed the retest of this level at 1.7040. 1.7100 is the level that holds the key to potential longs on this pair, if we break below this level and witness a solid close below 1.7030 on the 4H or above then we will turn our attention to the shorts but for now and while we are above this level we will focus on gaining an entry at 1.7140. with 1.7280 as our first target we have a decent 3:1 position but we could well see price break through this and head towards 1.7450.