my euraud switchwhen the support at 1.3675 gives way the pair will be heading toward the 1.345 level with 1.32 as an extension.
the monthly chart as attached posted negative divergence on the rsi which broke through the ascending trend, implying that the support here will not last for long.
All the best trading this pair and please remember to give this a thumbs up!
Euraudsell
playing euro chickenmonthly RSI has shown negative divergence and has now crossed below an ascending trend, which suggests the trend has turned negative and support at 1.3675 may prove temporary.
When the gates give way the pair will be heading toward the next projections at 1.35, with any rebound being capped by 1.4040
If you found my thesis helpful please remember to thumbs up.
All the best for the week ahead!
EURAUD short termwe have multiple resistance's, one even dating back from August 3rd 2016. On the daily price is being squeezed. Price has failed at this resistance trend line multiple times and doesn't look like it has the strength to break it now, however if price breaks above the trade will be invalid.
EUR/AUD, DAY CHART, SHORT (11-DEC-2016)Note:
EUR/AUD breaks the Descending Triangle Pattern.
Further downward movement is expected!
Recently, we see a consolidation after the breakout.
If the price able to break the consolidation support line
at 1.417x area.
Here are 2 ways to trade:
1. Short it directly after the breakout with
smaller lot size.
2. After breakout, wait for pullback to the
support zone and another bullish signal to
short. Can trade with righ lot size :)
Caution on the AUD employment data on Thursday.
Fundamentally, EUR is still on the downside.
EURAUD interesting situationHi traders,
today i've found another particular pair at a very important decision point.
As you can see above, here we are retesting a daily level that recently had been broken. This level lines up nicely with two powerful fibonacci retracements.
With that being the case, over the next days we are going to look for some opportunities in lower timeframes (1hr and 4hr).
I'll let you know if i enter the market.
Good luck!