A decent SETUP TO SHORT EURAUD
Here is why EURAUD could be potentially a very good trade
TECHNICALS :
I was waiting on this pair to break out of the tight rage previous week and decided to enter at the level when It held support now it becomes resistant and also formed a wedge pattern on the 15 min chart.
Price could eventually find support at the fibonacci .618 retracement It's not a major level that has hold before but it has held for at least once and is also the same lenght of the price that dropped and got into the consolidation.
Economic events ,
2 major events
GDP forecasting a growth of 0.3 percent with a slower growth short term.
Employent change increases.
TECHNICALS :
I was waiting on this pair to break out of the tight rage previous week and decided to enter at the level when It held support now it becomes resistant and also formed a wedge pattern on the 15 min chart.
Price could eventually find support at the fibonacci .618 retracement It's not a major level that has hold before but it has held for at least once and is also the same lenght of the price that dropped and got into the consolidation.
Economic events ,
2 major events
GDP forecasting a growth of 0.3 percent with a slower growth short term.
Employent change increases.
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