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Weekly Timeframe:
Daily Timeframe:
EurAud Weekly: By looking at the weekly we can see that buyers and sellers have been as price has been consolidating since September. Current price 1.61825 and resting in the middle of this weekly range.
Daily: after price reversed from tapping our support we can see we have been consolidating in our gray zone. Last week price faked out to the downside, hit the 61% Fibonacci and managed to close back in range above 1.61500 key psychological.
If price manages to stay in this range, we can anticipate bullish rallies to 1.63000 key psych(target 1). If price manages to break 1.61500 we can anticipate shorts to 1.60000, simply playing our zones
(risk management is key)