Trade77; EURAUD Near The Daily Trendline 7pm


Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.

We had got a good long signal on this pair three days ago with 100pips profit as Euro strength and Aussie weakness is clear to the market participants these days.
A daily trendline resides around 1.3900 round level and price is near to reach it. Also if you see the chart below you will see that price level has acted as a resistant before.

It also serves to note that we have  got a bearish butterfly on the hourly chart and the PRZ zone is extended to 1.3900 too.

The only confirmation for this short setup would be a candlestick formation that shows price rejection from that point.

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Regards

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  • Anonymous

    Not yet Greg, but I’m looking for a good short setup based on that daily bearish engulfing.