EURAUD (Trading into strong support again)Forecast and Trade Setup 12th Feb, 2014
Daily Chart
Hourly Chart
The EURAUD is trading into important Support, There is a few things which indicates a long position at these levels
- H4 Macd Divergence
- Flat Kinyo which has a higher chance for price to reverse
- Weekly And Monthly S1 Pivots
For this reason we will be placing long position for an initial target at the 38.2% retrace of down leg