EURAUD is extremely stretched to the upside so it is reasonable to look for some counter trend trade opportunities. Nice H&S pattern might form on15/1h chart. I'm going get on board once it breaks down through 1.519 level. Happy trading!
Comments
FXPhantom
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Hehe, unless we get the message like this: "AUSTRALIA NEEDS A$ CLOSER TO 85 U.S. CENTS"
FXPhantom
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Note the nice divergence on momentum and the RSI. That supports the idea of going short too.