EURAUD Daily Fib analysis

I would like to introduce you an interesting trading idea on EURAUD D1.

I noticed this pair is in consolidation for 9 months and it respects major Fibonacci levels with a great accuracy.

It is probable than the price will test the 0 level of Fib on the chart before a reversal, even if the RSI is already overbought.

Trading plan I will follow :
-Identify a reversal on H4
-Enter next bar market.
Target : 38,2% Fib
SL : 113% first swing fib level

R:R 2:1 if possible.

Good luck!

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