I think EURAUD is one of the greatest opportunities that we should be following this week. The pair made band-to-band move on the weekly chart and it is pretty much duplicating waves on the daily chart. Keep in mind in this very zone we also have December 2014’s high which will probably play the role of strong resistance zone. So i think once the current wave is completed around 1.53-1.54 we should look for sell opportunities.
Technical Analysis:
W1 (weekly chart) – band-to-band move
D1 (daily chart) – potential 4th wave duplication
Entry:
H4 – Wait for the pair to climb a bit higher near the 1.53-1.54 zone which is the wave duplication from daily chart and look to sell.
Target 1 – 1.5071
Target 2 – D1 20 MA
Stop Loss – above last high created
Video Explanation:
Yours,
Vlad
