2015-10-30_00-41-35euraud

Ideally we want to sell high so I plotted a resistance zone from 157.700 to 159.000.

Should price reach this zone then I would treat it at as a sell zone.

You may even have a sell limit order sitting at this area.

The target would be 152.000.

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2 thoughts on “EURAUD Daily Chart”

  1. Dimitar Ivanov says:

    I quite like this trade plan. It\s in line with my fundamentals. On the one hand RBA minutes did not show sign of much more weakening for the aussie (in my opinion). On the other, there is possibility for further devaluation of the EUR in December.

    … Nuno, what would you a sensible stop loss for this trade plan be? Would 50 pips be appropriate?

    1. Nuno Lampreia – Forex.Today says:

      Hi Dimitar,

      When price offers you a nice retracement for your entry you may always if short place your stop loss over the upper bollinger band plus the spread for the currency.
      If you remember correctly the bands contain price 95% of the time.
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