FXGURU-Z
Short

EURAUD SHORT TERM SHORT

FX:EURAUD   Euro / Australian Dollar
This pair is actually on it's resistance so will be selling short term...
the pair had a reverse signal day candle and confirmed the reversal by closing below the previous day's low, on Friday. It's going down. The only question is how far. It may consolidate above resistance as it has for the last 2 weeks, or it could drop 50% of the whole move up from the low, or break down altogether and revisit the 1.5274 area. After 4 months of consolidation, it should consolidate a bit, or move down to the 50% level; and then make another leg higher. a measured move off the double bottom across 4.5 months puts it at around 1.6480.
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FXGURU-Z maxw3st
@maxw3st, yes it will still consolidate yet my tp is at 1.53 on the weekly diagonal support trend line and the horizontal then from there i'll see price action again to go long...
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