EURAUD: Short the Butterfly/Trade the Shock
Fundamentals:
Natural gas and energy prices will continue to shock the markets for the winter. Euro's trade balance is out of whack. I believe that shorting EURAUD matches this view.
Technicals:
Clear downtrend
downward trendlines
Scott Carney's butterfly pattern (hopefully, it is a correct....)
Bearish Cloud
Tested the Resistance Band
Under the 200 ema
Rejection candles at resistance
Natural gas and energy prices will continue to shock the markets for the winter. Euro's trade balance is out of whack. I believe that shorting EURAUD matches this view.
Technicals:
Clear downtrend
downward trendlines
Scott Carney's butterfly pattern (hopefully, it is a correct....)
Bearish Cloud
Tested the Resistance Band
Under the 200 ema
Rejection candles at resistance
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