EURAUD Trading Analysis

 

by: Colibri Trader

Dear traders,

Happy New Year again! I hope that you will be following your goals and reaching them one after another.

In the end, what matters is our ability to have pre-determined goals and try to make everything possible to reach them. Try to stay away from negative thoughts/people or at least help them stay positive.

I believe that the new year will be better off than 2017 and that there will be more trading opportunities than ever. There is no way I can predict the latter; the least I can do is stay patient and wait for trading opportunities.

EURAUD Trading Analysis

Today’s trading analysis is coming from EURAUD. It seems like this pair might be getting ready for a continuation of the bullish trend.

The daily price action confirmation is coming from a bearish rejection candle (pinbar) that formed today. The major level of 1.5325 has been re-tested and it has proven to be a strong support level.

I am looking at the next resistance level of 1.5500, which might prove to be a strong resistance level and a potential target for the traders that are long.

Tomorrow, I will be looking for a confirmation from the 4H chart and if I see such (as is according to my trading strategy), I might enter in a long trade.

I need to wait and see if such opportunity arises. Until then…

Happy Trading and Have a Positive 2018!

Colibri Trader

 

p.s.

Check out my Christmas trip and why I recommend you to visit Vienna and Strasbourg

See how I read Supply and Demand Zones 

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