EURAUD

14 May 2019

EURAUD is in a overall uptrend. Price is at major daily resistance level 1.61820. I'm expecting to reverse at daily resistance level. I'm expecting for bears to take control and push price down to a key support level. My first take profit is 1.6058, second take profit 1.59297, third take profit 1.58755. At my third take profit I'm expecting bull try to retake control. I will look for for confluence with the RSI indicator, I'm looking to buy at the 50.0000 level. I also will be looking for highs to be taking out for confirmation on reversal and also will be looking for reversal patterns as well. My first take profit for the bullish trend will be at 1.68230. My analysis could take a few days to play out because it is on the daily time-frame, so I would be paying close attention for this. But I will be taking a short position on this right now in the meantime, while I expect bears to take control.