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Hello traders good to be back with you on this Monday March 30th. Today I am looking at the EURAUD pair and there is a lot going on with this pair let us talk about the daily chart, If you look at that chart you will see that it has taken out previous highs and looks possible we are heading for a change of trend. The next couple of days we will need to confirm this and watch price action. Ok this chart we are looking at is a 60 minute chart and you can see we have been in a range for some time and is knocking at the 1.4100 price level and I would look at this as resistance and a possible reversal point at the London open. I have placed a trend line on the chart and looking for that break to the downside as my bias is still bearish. We have two take profit zones one at the 1,4000 psychological level and then below that being at the next support at 1.3960 price level. When this pair shorts this is a nice trade as there is little junk left of the chart that we have to fight. Talk Soon…… William.

By FXOpen