The EUR/AUD is displaying signs for the continuation of the down-move. The pair has been in an up-trend for a while now, but the weekly shooting stars coupled with the impulse-sideways-impulse sequence possibility on the daily makes us interested sellers. Adding to that, we got a failed breakout higher on the daily, which ended up as a shooting star, followed afterwards by a bearish engulfing. We also got a stochastic cross-over from overbought on the daily, coupled with a stochastic overbought reading on the weekly. All things considered, we’re sellers, aiming to join the newly formed bear trend on the EUR/AUD.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.