EUR/AUD has been exhibiting an overall bullish market sentiment over the past few months. At the end of last week, price rejected a key level of support with a strong bullish candle. Of significant note also is the long wick at the bottom of this bullish candle on the day chart . Given this price action I anticipate price to respect the 61.8% fib level before flagging and making it's way back to 1.635 area. This trade is for demonstration and educational purposes only. Trade at your own risk.
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On track for buy