The course is back to 1.49 this morning in support and just validate a breakout of its short term bullish slant (blue segment on the 1H chart).
I would advise traders to trade only Long positions (for purchase) on the EUR / AUD as the course above 1.48.
Maintaining the current above 1.49 consolidate the bullish sentiment.
A break 1.50 then offer a new buy signal for an extension bullish towards 1.51 or higher, if this level is broken up.
In case of return of the course in 1.48 then I advise traders to wait for a breakout of 1.47 before entering / not to treat more than Shorts positions (for sale) on the EUR / AUD.
NB: traders whose trading strategy is more aggressive will set treat the EUR / AUD 1.49 according to treat the fracture of short term bullish slant:
- That Long positions above 1.49.
- That Shorts positions under 1.49
(and thus can consider getting / not to treat the Shorts positions from the breakout of 1.49 but not before)
