ProFX_Strategist
Short

Strong Downside Expectation

FX:EURAUD   Euro Fx/Australian Dollar
22 0 6
EURAUD             on the daily chart view;

Ichimoku ;

Take a good look at the bright-green MA (which the price is currently resting on); it is looking ready to close downwards - like the jaws of a crocodile ready to close-down (as you can see back in history; this price action always has to happen)... Nevertheless, there are some very thick cloud resistances positioned just below (as you can see); that means, the price has a high probability of bouncing back-off upwards once again...; but a stronger price action will try to break-through the clouds, and the thinner the clouds, the easier it will be for the price to break-across...

In addition, also please pay attention to the RSI indicator; the price is currently located quite near to the overbought line at 75.0000; the price looks to be turning back downwards...

Best regards.
Comment: Important to note that the bright-green MA cannot drift away too far from the bright-red MA. (They will have to close-down & cross-over at some point in time...) The bright-green MA tags along with the price-line very closely...
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