News event for the day that could affect this trade:

. (AUD) RBA Interest Rate, Statement



EURAUD is bouncing off weekly support as I highlighted from my last post. If you're not in the buy, here's a 2nd chance for us bulls to consider buying this pair again. Price came off MM2 beginning of the month - bulls buy zone for the month, I'd go into smaller TF and look for buying opportunities.


Current price action shows that price could retrace down further. I'm not interested in the sell as it could short-lived and risk to reward would be terrible. I'be eyeing the 4hr role reversal area in confluence with 38.2-61.8 Fib and WM2 (1.385) level as my buy zone. There's huge potential with this trade, so I'm aiming to buy and hold this trade towards MM4 (1.4383)- bulls target for the month.

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