Rounding Bottom has formed on EUR/AUD. The momentum was so strong it didn't form a handle or rounding bottom for a W formation. This means, demand side is strong and we can expect a ton of upside to come. RSI>50 =70 Bullish bias Target1.6816
CONCERNS: I like to wait for a breakout confirmed before I get into a trade like this. This means, only if the candle opens above the breakout resistance tomorrow will I get into this long.
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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