BreakageFor the previous days, the EURAUD pair has been continuously consolidating few pips above the support-now-resistance area. Due to the unwillingness of the bulls to fight on, it was hugely followed by a series of bear attacks. This of course, after another formation of inside bar, has made me point out to enter a short position for a quick trade.
Euraudsetup
Euro's reliefThrough my previous analysis, I've shown you several short setups for the Euro currency. These includes EURGBP, EURUSD, EURJPY, and now, EURAUD!
For several days, the Euro-Aussie pair has tested the resistance several times -- and failed -- leading to a descend on prices. In addition to this, a possible fakey signal has been formed. Fakey bar occurs only after a formation of inside bar where when the price action bar produces a pin bar that pushes through the inside bar's high/low. After the formation of the fakey, another inside bar formed again. Look out!