EURAUD Daily S/R| Bullish Divergence| Local S/R| Price Action

31 dic 2020

Evening Traders,

Today’s analysis – EURAUD – trading at key Daily S/R with a bullish divergence, further upside probable,

Points to consider,
- Price Action Impulsive
- Daily S/R Support
- Local S/R Resistance
- RSI Bullish Divergence
- Low Volume

EURAUD’s immediate price action is at a key trade location where a bounce is probable allowing for a long bias.

The Local S/R is the objective, being at technical confluence with the .618 Fibonacci and 200 MA, resistance is to be expected.

The RSI is currently trading with a divergence, being played out will be indicative of strength in the market.

Overall, in my opinion, EURAUD is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps

Thank you for following my work

And remember,

“The hard, cold reality of trading is that every trade has an uncertain outcome.” ― Mark Douglas,