EUR/AUD ANALYSIS (short term)
Hi traders :) I' m Guario and here are some thoughts regarding EUR/AUD possible future price action. As you can se from the chart a BAT formation has just occurred, telling us that the CD uptrend is weak so that a trend reversion is possible. Also notice how the D point coincide with the 50% of Fibonacci retracement, giving us an other sign that the main bearish trend (red arrowed trendline) will continue (even lower the target level I've set) and how the maximum the pair reached in D point is higher than the previous price maximum in divergence with the Stochastic oscillator, giving us an other bearish signal. In conclusion the reversion could be very fast helped by the gap in volume between the two volumetric zones (red horizontal dashed lines). Look at the chart for possible entry (which i suggest to set under the first volumetric level) stop and targets points. Write me in the comments for any thought, question or critic. Good luck :)
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