EURAUD currency pair for several days is moving north as a result of which the market has already defeated both moving averages 10 and 20 as well as 120 and is currently around 1.4510 resistance.
Last week there was also a crossing of the EMA10 and EMA20 and with the beginning of this week, the two also crossed from the bottom EMA120 what indicates a potential change in market sentiment in the longer term.
If in the near future the market will arrive in the vicinity of support zone coinciding with the level of 38.2% Fibonacci correction and with it also rejects the zone between EMA10 / 20, then we might consider opening long positions in line with the current trend.
An additional confirmation of supporting pro-growth scenario may also be present situation on the oscillator MACD, which indicates valid trend.
It should also be noted that both the first and second signal I gave last week’s on strategy EMA 10/20 so far implemented have already reched positions TP1 and still are working and earning.
All analyzes of the cycle you can follow the tag “strategy EMA 10/20”
