EURUSD Price Action| Trend| .618 Fibonacci| Weekly Level

Evening Traders,

Today’s analysis – EURAUD – trading at a key technical trade location where a bounce is probable,

Points to consider,
- Price Action Corrective
- .618 Fibonacci Support
- Bullish OB Support
- Weekly S/R Objective
- RSI Oversold

EURUSD’s immediate price action is corrective and is testing a trade location that has technical confluence with the .618 Fibonacci and the Bullish OB, allowing for a long bias.

The Weekly S/R is the immediate objective, exceeding this level will lead to a trend continuation.

The current RSI is oversold; a relief rally is probable in an overextended market.

Overall, in my opinion, EURUSD is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work

And remember,

“Sheer will and determination is no substitute for something that actually works.” – Jason Klatt