Based on the 4hr timeframe we could see price already finished with B correction of ABC movement from elliott wave. After B is finished, C is expected to come in and it usally go to around 61.8 - 127.2 fibonacci retracemen of B.
I already have 1 buy position from 1.6190 and planning to add another buy position.
During friday price finally managed to closed above 1.6240-1.6270 resistance which is a good news for bulls.
This pair offers a good RR ratio currently as i believe AUD wil go down so EURAUD will shoot up.
Buy EURAUD 1.6260
Stop loss 1.6190
Take profit 1 @ 1.6420 (first resistance)
Take profit 2 @1.6550 (second resistance)
Take profit 3 @1.6680 (127.2 fibonacci retracement)
Good Luck
I already have 1 buy position from 1.6190 and planning to add another buy position.
During friday price finally managed to closed above 1.6240-1.6270 resistance which is a good news for bulls.
This pair offers a good RR ratio currently as i believe AUD wil go down so EURAUD will shoot up.
Buy EURAUD 1.6260
Stop loss 1.6190
Take profit 1 @ 1.6420 (first resistance)
Take profit 2 @1.6550 (second resistance)
Take profit 3 @1.6680 (127.2 fibonacci retracement)
Good Luck