EURAUD, trend line testing

EURAUD pair tested a down trend line today, making it a 4th touch and highly strong. With markets in waiting for today's FOMC and tomorrow's ECB, the direction of the trend so far remains bearish, but ECB is expected to announce the reduction in QE, which should strengthen the EUR. a break of the trend line and latest lows should be a good buy signal for the pair. Otherwise a bounce of the trend line can be traded with a good risk-reward. be wary of approaching high volatility during rate hikes.

Happy Trading!