Hello traders welcome to a new trading day. Well we had the FOMC and a big sell off on many pairs the market must of like what they had to say as we see dollar strength across the board. I am not sure how the markets will react today so be alert to data and stick with your trade plan.
OK let us take a look at the trade plan today for the EURAUD- This is the 30 minute chart chart. Today we have a couple of options for our entry as we are looking to sell this pair today. I would like to see the pullback to the daily pivot at price 1.5399 and enter the sell. The second option is wait for a close below the 200 ema and a retest and a bearish candle and enter at price of 1.5317. I am looking to take profit at the support zone as marked on the chart at 1.5210.
Thank you traders and we will talk soon…William