Long term view on EURAUD is bearish, currently in a channel displaying a head and shoulders pattern. It has now broken weekly trend line and am now waiting for a retest on daily for entry. Target 1 will be fib extension -0.27 which will touch support line on bearish channel.
Price has retraced to 0.618 from NZD news yesterday and has been rejected of the 200 ma on both 1hr and 4hr time frame. I believe this pair will continue its bearish trend back down to 0.71600 for first target.
Price has retraced to 0.618 from NZD news yesterday and has been rejected of the 200 ma on both 1hr and 4hr time frame. I believe this pair will continue its bearish trend back down to 0.71600 for first target.
Inverse head and shoulder- Target is fib extension -0.27 confluence with Daily supply