FX.co ★ EURGBP holding nicely above trend line support, potential for a push up.

EURAUD is testing a strong overlap support at 0.8501 along with a short term trend line support. It is also aided by the bullish momentum from the Golden Cross (50 x 200 SMA) and the Ichimoku cloud. We could be seeing a bounce from here pushing prices up to 1st resistance at 0.8532.

Trading Recommendation

Entry: 0.8501

Reason for Entry:

Trend line support, 23% retracement, overlap support, golden cross.

Take Profit: 0.8532

Reason for Take Profit:

78.6% Fibonacci retracement

Stop Loss: 1.89148

Reason for Stop Loss:

38.2% Fibonacci retracement