EURAUD - POSSIBLE LARGER STRUCTURE FORMING Short

Euro Fx/Australian DollarFXCM

Description

⋅ Sep 28, 2018 6:36 AM

Hey folks,

I have been trading intra-day the last few days and couldn't focus on posting my analysis.

So here we go with EURAUD.

As you see it played out exactly how we predicted!

For the coming week, I expect a reset at the 200 EMA (white line) & previous trap area to then move up to @1.63300.

At this area we expect a larger move down due to higher time frame analysis.

This is just one of many possibilities, price may aswell just keep moving down.

But we shall see... good trading day everyone! :)

Comments

FXCM

⋅ Sep 28, 2018 9:42 AM

I agree with your bearish view on EURAUD. Our trading signal idea is also of the same bias. We have found roughly resistance level at 1.6161 which might be a horizontal overlap resistance.
Additionally, RSI is seeing bearish pressure which supports our bearish bias.

Glad to see that we have the same bias for EURAUD