Quick SHORT on the EURAUD: Breakout of Descending Wedge
Updated
We can see on the H4 and D1 chart that EURAUD has accumulated enough sell pressure to breakdown from the support line of the big descending wedge, with today's highs being rejected by the bottom of the wedge line, hence flipping it to resistance @ 1.65504
Now we take a look at the technicals
- MACD going over into the red, deeply in the SELL zone
- Sell volumes increasing steadily, indicating increased shorts and interest --> Momentum for further downside (Tip: A decreasing volume in 1 direction indicates the imminent reversal of the trend)
As always, feel free to like and comment if you enjoyed my posts, trade safely and carefully!
Best Regards,
GOLD D ROGER
Now we take a look at the technicals
- MACD going over into the red, deeply in the SELL zone
- Sell volumes increasing steadily, indicating increased shorts and interest --> Momentum for further downside (Tip: A decreasing volume in 1 direction indicates the imminent reversal of the trend)
As always, feel free to like and comment if you enjoyed my posts, trade safely and carefully!
Best Regards,
GOLD D ROGER
Trade closed: target reached
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