Time to retrace for a bit.
I think this pair could go just a little bit lower, because of the slightly stronger Aussie. Even though, I have a lower target in my head on the AUDUSD, I think it could still go slightly higher tomorrow, which could push EURAUD to test the 1.53926 level (previous November high). If the pair would close lower than that level, then there is some potential to the downside.
But be careful with this one, it often screws up everybody, because it doesn't follow your typical formation outcomes. If this get's back to 1.56 area, then we'll have to see if it still wants to go higher.
For now, looking for a SELL to about 1.53926 and then MAYBE lower if we get a confirmation.
As always, keep an eye on the price action!
I think this pair could go just a little bit lower, because of the slightly stronger Aussie. Even though, I have a lower target in my head on the AUDUSD, I think it could still go slightly higher tomorrow, which could push EURAUD to test the 1.53926 level (previous November high). If the pair would close lower than that level, then there is some potential to the downside.
But be careful with this one, it often screws up everybody, because it doesn't follow your typical formation outcomes. If this get's back to 1.56 area, then we'll have to see if it still wants to go higher.
For now, looking for a SELL to about 1.53926 and then MAYBE lower if we get a confirmation.
As always, keep an eye on the price action!
If it closes on the Daily above 1.55750, scrap the whole idea.