EURAUD Sell Top of Channel

Channel ha been holding for months and RSI is lining up nicely for a strong sell. Aud pair has been weak but now at a good point of reversing.

Sell @ current price of 1.6612 area

TP @ 1.6375

Good luck and let me know if there are any questions.

Charles V
CVFX Management
Trading made Simple

Note

This is a very strong supply area so bias is still downward movement before a push up.

Note

Closed out 2 positions at 1% loss, will reenter on sell once we have a better sign as supply zone being pierced.

RBA minutes: AUD expecting to ease their policies on Nov 3rd and lower cash rate.

Note

With every sharp move there is always a retrace back to the original point of where the climb started. Expecting price to still retrace back to 1.65-1.66 area.

Note

EURAUD rallied to the topside very fast breaking out of the consolidation range. With every large rally there is always a pull back to its origin. Expecting price to pull back to the 4hr up trend line then the support (past resistance).

cvfxwealth

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