EURAUD LOOKING INTERESTING ON BREAK OF 20 DMA
- Jul 23, 2016
- 1 min read
EURAUD, Daily
The EURAUD pair first caught my eye yesterday (July 21) after a long sustained (over 30 day) down move from the May 24 high. It formed a five day floor around the 1.4520 level earlier this week and then rallied and attempted to break the 20 DMA and 23.6 Fibonacci zone around 1.4730-1.4750. A close above 1.4730 on the Daily chart will generate a LONG position with Target 1 at 1.4870 and Target 2 1.5025.
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With regards
The FMC Team
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