The Euro vs. the Australian Dollar. This pair is considered to be a great barometer for global risk. In 2012, during the European sovereign debt crisis the EURAUD reached its low. Since then, due to the European Central Bank’s policy of Outright Monetary Transactions (OTM or the “whatever it takes” measure ) the pair has recovered substantially.
Possible short after this fake up breakout and nice and fast comeback to the bottom support level of consolidation. Hope to see continuation of that long downtrend which has begun couple of months ago.
As you can see, on the H1 interval, there is a descending triangle pattern, so I will go short, below 1,4126 level. See more ideas on Consilium Invest: https://en.consiliuminvest.com/traders/246-david-connor/ideas