EUR/AUD
Updated
EUR/AUD TRADE SETUP.
Price on the larger time frame has reached a new high. Last week price has simply consolidated between 1.71000 resistance zone and 1.67864 neckline of the double top . Once the market opens, I anticipate price to fall down towards the neckline and probably breakout of the neckline and current ascending trendline , to establish a new channel.
My personal short term trade setup is a sell order, confirmation will be the breakout of the 1.69246 support level , with the target being 1.67864.
Price on the larger time frame has reached a new high. Last week price has simply consolidated between 1.71000 resistance zone and 1.67864 neckline of the double top . Once the market opens, I anticipate price to fall down towards the neckline and probably breakout of the neckline and current ascending trendline , to establish a new channel.
My personal short term trade setup is a sell order, confirmation will be the breakout of the 1.69246 support level , with the target being 1.67864.
Order cancelled
Price failed to break the 1.69246 entry point level to initiate the trade. Price continued its bullish momentum.
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