EURAUD Trade Idea (11th December 2019)

Currency Pair: EUR/AUD
Timeframe: H4
Date/Time of Signal: 11th December 2019 / 2100hrs (SGT)

Review:
With news of the possibility of a prospect for a conclusion of the phase one deal or a delay in Dec’19 tariffs, this should work with the value of the Australian dollar. After all, the Australian dollar is very sensitive to Chinese growth as Australia is a major supplier of hard commodities.

EUR/AUD has broken the Support level of 1.6200.

Trade signaled to SELL EUR/AUD (Entry: 1.6194) with 3 Take Profit (TP) Targets (TP1: 1.6174, TP2: 1.6154, TP3: 1.6134) and Stop Loss (SL) at 1.6224