Euro against Aussie Dollar

Good evening Dynamic Traders,

On the EURAUD tonight, we have the daily trend still upbut range bound, and as you can see from the four hour chart below we have an even tighter range and the RSI is above fifty, so I am waiting for my break to use our trusty ESLT on the BOB, which could happen early next week due to the high impact news out on both the Euro and the Austalian dollar on Tuesday, however there is other high impact news out before this on the GBP which could also affect this pair so be on your guard and beware of false breakouts, so wait for your signalsa and as ever 'Trading equals Patience' so let the market tell you what it wants to do as it is always right.

Please ensure to do your own analysis for any trades and good luck with every one of them.

Charts courtesy of TradeStation.

Clayton Farnworth.