FX.co ★ EUR/AUD Trading Recommendations for 19th July 2016

The price has bounced off our 1.4500 support brilliantly as expected. We now expect a further push up all the way towards 1.5200 which is a fractal resistance level (fibonacci retracement + horizontal resistance + MA resistance). 1.4370 is our stop loss which we're keeping really tight.

We can also see how the RSI displays a bullish divergence vs the price and has crossed above a descending resistance-turned-support line triggering a bullish move.

Trading Recommendations:

Buy now

Stop loss at 1.4370

Take profit at 1.5200