Euruad
EurAud Looking Bearish At The MomentI am expecting euraud to Drop from this upward channel or wedge
Reasons To Short:
Probably a REversal In Trend Point
Triple Top
Nearly Straight Line Upward Resistance
High Bearish Volume As Seen Clearly
Lower Boundry Breakout
Upcoming News Likes To Be Supporting The Trade
1 By 5 Risk To Reward Ratio Trade
EURAUD: More Weakness Could Be In The CardsEURAUD completed a corrective pullback in the ABC manner at 1.520. From this C wave highs a sharp drop down occurred on EUR while the other pair AUDUSD seems to trade more stable or even higher in recent sessions. For now a nice 3 wave move down unfolded with wave 4 in view with resistance around 1.4658-1.4711 region.
www.ew-forecast.com
@ewforecast
EURAUD Potential Short SignalWhile EURUAD appears to be moving sideways, it has actually been extremely bearish over the past few months and this can be seen in the image below:
With that being said, we are looking to ride this downward moving momentum and take a short position on a break below and close below of the supporting trend-line marked in blue. As always, we would like to see confluence from our proprietary price action forecasting algorithm with a prediction of a move to the downside and a forecasting accuracy percentage of at least 85%. In addition, we would like to see retail sentiment move to +1.50% as we currently are sitting at 1.10%. If these three conditions come together we will see a very high probably set up to take a short position on this pair so make sure you are following to receive updates on this potential signal.
Our algorithm is currently predicting continued movement above the supporting trend-line with a forecast accuracy percentage of 76%, as seen in the image linked below, but our algorithm will update the forecast every hour on the hour and we will update you guys if we take this trade. So make sure you are following for updates!
i.imgur.com
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EURAUD : Intraday ViewEURUAD is still trading bullish, now ideally in red wave (iii), that could reach levels around 1.6300-1.634, where our fibo. ratios project end of red wave (iii). That said recent rally could push prices higher in sessions ahead.
Invalidation level is at 1.55065, as long as this level holds, we are looking up.
www.ew-forecast.com
@ewforecast
EURUSD, TWO PITCHFORKS TWO POSSIBLE FUTURESBASED ON SOME SIMPLE RESISTANCE AND SUPPORT LINE ANALYSIS IT CAN BEE SEEN THAT EURUSD HAS THE POTENTIAL OF A HUGE DOWNWARDS MOVEMENT!
