EURAUD - Potential Low?

 

EURAUD Daily chart

Daily chart shows EURAUD has completed 2 pushes down of its decline phase. It looks set to complete a 3rd push down when its price made a lower low whilst its MACD made a higher low to form a potential MACD bullish divergence. This suggests EURAUD may have made a potential low.

I have entered a long trade today (18 Jun 2024) at 1.6225 with a stop at 1.6140 (just below the latest low) and TP at 1.6395 (just below the last swing high) for a potential 2:1 reward/risk ratio trade.

Disclaimer: 

Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.