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Euraudbearish

EURAUD - POSSIBLE LARGER STRUCTURE FORMINGHey folks, I have been trading intra-day the last few days and couldn't focus on posting my analysis. So here we go with EURAUD. As you see it played out exactly how we predicted! For the coming week, I expect a reset at the 200 EMA (white line) & previous trap area to then move up to @1.63300. At this area we expect a larger move down due to higher time frame analysis. This is just one of many possibilities, price may aswell just keep moving down. But we shall see... good trading day everyone! :)
Short
by Matt1994
1
EURAUD SELL - LONG TERM SHORTTo retrace to the 0.786 level of fibonacci would mean for price to get all the way up to 1.59949. 4/25/18 (1.61409) on the Daily timeframe, shooting star candle which lead to a massive drop (~860 pips) til around 6/4/18 (1.52747 top of a key zone.) Historically, this trend repeats itself from the ~1.61409 level very well. From 8/24/15 to 2/11/16 about 5 significant drops occurred resulting in a drop of about 300 pips at a minimum. 9/29/15 rice was at 1.62505. VERY close to the aforementioned high of 1.61409. From that time until 12/3/15 there was a ~1900 pip drop and price went to a low of 1.43479. Price has consolidated the last 5 hours ranging from around 1.59336 to 1.59023. I am looking to see if price will reach 1.61409 - 1.60008 for a really nice long term sell. If price does not reach that level and shows a lot of bearish signs and signals.. I plan to sell it around 1.58895. My take profit aligns perfectly with the 1.272 level of the fibonacci extension which is 1.50337. I plan to take profit at 1.50657. I will look for a sooner place to take profit and update as I analyze. Happy trading everyone, let’s milk this bitch!
Short
by DJdSchu