EURAUD Buy Update

EURAUD is consolidating, as summer months typically consolidate. Bias is still upward buy direction

Indicators:
Pair is bouncing between a 300 pip range (red lines).
Blue lines are trendlines, watch out for bounces off of them.
Weekly Stochastic RSI in buy zone
Area of support has held consistently

Buy Entry:
1. Enter at uptrend line 1.6275-1.6300 area
2. Enter at support and bottom of consolidation zone 1.6110 area

Sell Entry:
1. Sell at current price with short stop loss above top of consolation range.
2. Sell at top of consolidation range 1.6400 area with stop loss above consolidation range.

I am trading majority of long-term buys with short term <1 day sells in this range.

Good luck trading!


Charles V
CVFX Management @17% for July
www.cvfxmanagement.com
Follow me @cvfxwealth
Trading made simple

Yorum:

Update: consolidation no longer valid as we had a break this week above the range. If you entered a buy as the bias was then you are probably up a did about of pips as I am.

Good luck!