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Hello traders welcome back to a new trading day. Well we had Asia data this morning with NZD dropping interest rates .25bps and the price action reacted. The data for today is minimal, however I have to say the charts looking good and some pips to be made. Good trades yesterday with profit. OK so let us take a look at the currency pair for today and the trade plan for the EURAUD- This is the 30 minute chart chart. Today we have to say the daily is bullish as all the time frames are bullish. I am concerned at the 4 hour chart as it is approaching strong support. The trade for today has to be bullish if you look at the daily chart has made the move. The plan is to get a Fibonacci pullback to the 50% level at price 1.4792 and look to enter the long trade. We want to take profit at the daily R1 at price level 1.4838. If you are experienced at countertrend trades you can do this on the pullback to our long entry.

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