A good risk reward trade to long EURAUD
Interestingly, AUDUSD did not trade as strongly as I would expect given the strength in the EURUSD today. Risk on mode as a result of encouraging development in vaccine did not push AUDUSD as parabolically higher as always. The strength in AUDUSD has also pale in comparision to the EURUSD spike today.
That means it is probably viable to go long EURAUD from here. DMI +is above to cross above the DMI - and EURAUD is trading at multi weeks low and can rebound strongly from here. The risk reward ratio make sense to go long on EURAUD here at 1.6330 with a profit take target of 1.6900 with stop at 1.6080
That means it is probably viable to go long EURAUD from here. DMI +is above to cross above the DMI - and EURAUD is trading at multi weeks low and can rebound strongly from here. The risk reward ratio make sense to go long on EURAUD here at 1.6330 with a profit take target of 1.6900 with stop at 1.6080
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