EURAUD - 24h expiry

Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Price action looks to be forming a top.
We look for a temporary move lower.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.6500.

We look to Sell at 1.6500 (stop at 1.6550)
Our profit targets will be 1.6380 and 1.6350

Resistance: 1.6500 / 1.6550 / 1.6600
Support: 1.6400 / 1.6350 / 1.6300

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The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

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audEUREURAUDeuraudshortForexoandasetupSupport and Resistancetradeidea

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