Art_of_Trading
Panjang

EURAUD: Major Support & Bat Pattern

FX:EURAUD   Fx Euro/Dolar Australia
The EURAUD             price dropped significantly last few days and it getting close to the major support level at 1.5630. The price respected that level multiple times (green arrows) and it is more likely it will do it again. The sellers are going to lock their profits and buyers are going to step in, which will increase the price up.

Moreover, the EURAUD             formed a bat pattern , which increases the probability of this trade. The price already touched 88.6 Fibonacci retracement as an entry point to go long.
T1 – 38.2%
T2 – 61.8%
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