traderWgun

EURAUD Update 7th of May, 2015 - Possible sell opportunities

FX:EURAUD   Euro Fx/Australian Dollar
220 0 4
This is an update for my previous chart:
EURAUD update - 19 November 2014

As expected we moved higher above the 1.50 level and completed a zig-zag correction.
This correction was preceded by a complex double zig-zag wave (A).

Now we have got a possible leading diagonal wave a (or 1) that this market
is currently correcting in what looks like a zig-zag formation.

We have got bullish RSI divergence as well as a bullish engulfing pattern
which are indicating that we should see more gains in the sessions ahead.
New lows below 1.367 are expected as the 1.533 level stays intact.

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