EURAUD Short- Respect For Topside Liquidity- ECB Today

Once again EURAUD has respected the top side only taking out the former highs before showing weakness and beginning to roll over. This offers a great RR set up and the prevailing market sentiment suggests a recovering Dollar and a stronger bond market out of the gate this morning which perhaps suggests continued weakness in the Euro. The German Buba report will be in an hour and could create some smaller time frame volatility in the Euro as projections are announced. Later today the head of the European Central Bank will be speaking and will likely touch on some important points. Trade accordingly. Another thing to consider, is if there is considerable upside momentum, marketing in to a buy order. This could offer a quick scalp if there is enough pressure with plenty more liquidity to be chased down on the topside.