Thursday, May 31, 2012

EURAUD Analysis

Yet another of my favorite pair as this pair has positive swap. Euraud has reversed at 1.30264 which appeared to be the low of September 2011. As such, we would be looking for short opportunities.

This pair has a resistance as marked in the chart, the low of the previous 3 weeks. With price retesting this level, it gives us a good opportunity to short with a very good risk to reward ratio.

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