EURAUD has rallied to the channel top driven by the dramatic sell-off in risk assets like AUD.
Now, is it possible that we can get a sell entry here?
As you can see in the chart, on all the previous occasions, the price dropped after hitting the channel top.
So, yes, there is a possibility of a drop. But, for that to happen we need to see improvement in risk appetitive and a healthy correction in the stock markets. If that happens then EURAUD is going to drop.
Now, is it possible that we can get a sell entry here?
As you can see in the chart, on all the previous occasions, the price dropped after hitting the channel top.
So, yes, there is a possibility of a drop. But, for that to happen we need to see improvement in risk appetitive and a healthy correction in the stock markets. If that happens then EURAUD is going to drop.
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.
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.