EURAUD Trade Idea 0507-0907
During Euro session on Friday, EURAUD approached to the key resistant zone.
It was near to the 3 months high of 1.5870 before it was rejected all the way down part of the reason was due to the more than forecast US job report data (725k forecast vs 850k actual) but, slightly missed on employment rate (5.6% forecast vs 5.9% actual).
Currently the price is trading at the zone 1.5750+-. The price likely to break out of this support zone before its reverse
Look for buy opportunity from 1.5710+- and 1.5760+-.(with bullish confirmation above support A)
Sentiment on Euro nett positive, while Aussie nett negative.
RBA is set to have their meeting on coming Tuesday.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
It was near to the 3 months high of 1.5870 before it was rejected all the way down part of the reason was due to the more than forecast US job report data (725k forecast vs 850k actual) but, slightly missed on employment rate (5.6% forecast vs 5.9% actual).
Currently the price is trading at the zone 1.5750+-. The price likely to break out of this support zone before its reverse
Look for buy opportunity from 1.5710+- and 1.5760+-.(with bullish confirmation above support A)
Sentiment on Euro nett positive, while Aussie nett negative.
RBA is set to have their meeting on coming Tuesday.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
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