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[QUOTE="The5ers, post: 203931, member: 70285"]
[HEADING=1]Weekly trade idea on EUR/AUD.[/HEADING]
[HEADING=2]Week: 24-28.01.2022[/HEADING]
[HEADING=1]AUD CPI.[/HEADING]
The major news which will move this pair this week is the Consumer Price Index for the AUD. This result gives a major indication of inflation within the economy. With fuel and housing prices showing no sign of slowing down, I can see this release triggering an RBA cash rate meeting. Keep your eye on this release, I think their expectations are set too high and the market will be disappointed.
[HEADING=1]Key Levels:[/HEADING]
[LIST]
[*]Resistance 1.58500, 1.59000
[*]Support 1.56000
[/LIST]
[HEADING=1]Trend EUR/AUD[/HEADING]
Sideways

Price has been consolidating for the past few weeks and I am expecting this to continue. We are approaching a strong supply area and given the current climate of the currencies, I can see this supply zone being too strong for the price to break.

[HEADING=1]Call to Action/Trade Idea[/HEADING]
[B]We have entered the supply zone on the 4H chart, look into the 1H and start to build a trading plan, look for Lower Lows, trend line breaks, and chart patterns which point towards the downside, then short to 1.56000.

[ATTACH type="full"]19981[/ATTACH][/B]
[/QUOTE]

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