After dovish comments by ECB President Christine Lagarde the EURUSD and its crosses moved lower. The stop losses were too expensive for me, but the AUDUSD offered a short setup risking 11 pips for a potential 32 pips to our daily target at .6833.
An entry was taken and price began to move lower. With a strengthening DXY, price gained downside momentum and our target was reached fairly quickly without any retracements.
The first area to keep an eye on was yesterday’s high and then the Asian session low. Price descended through both and the trade was closed at our daily target.
There is lots of economic news releases tomorrow so enjoy the ride.
Good luck with your trading!
