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EURAUD 60 Minute Chart Analysis
Hello traders good to be back with you and another chart analysis. Today we are looking at the AUDUSD 60 minute chart and it is just before the London open.This is a classic set up as we can see that spatially this is bullish on this time frame. I have placed the Fibonacci tool on the chart and we have a nice trade set up as we see price pulling back. We are looking for a pullback to the entry zone which is a Fibonacci level and we will buy this and our take profit will be the 161.8 Fibonacci level. I placed a stop on the chart however that can change depending on my entry and my money management of this trade, so it is placed just above the R1 pivot point. Very simple trade plan now we wait and let price come to us and look for our buy entry. Talk Soon Traders……. William
Source: http://www.fxinstructor.com/blog/euraud-60-minute-chart-analysis-3
