EURAUD - Selling rallies to the 61.8% Retracement
EURAUD is Bearish - We look to Sell at 1.6500
▪️ Short term bias is mildly bearish.
▪️ Bespoke resistance is located at 1.6500.
▪️ We have a 61.8% Fibonacci pullback level of 1.6489 from 1.6771 to 1.6032.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.6500, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.
Stop: 1.6560
Target1: 1.6115
Target2: 1.6000
▪️ Short term bias is mildly bearish.
▪️ Bespoke resistance is located at 1.6500.
▪️ We have a 61.8% Fibonacci pullback level of 1.6489 from 1.6771 to 1.6032.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.6500, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.
Stop: 1.6560
Target1: 1.6115
Target2: 1.6000
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