RonaldRayForeX
Short

EUR/AUD Bearish Outlook

FX:EURAUD   Euro Fx/Australian Dollar
28 0 2
2 months ago
Description: As Shown above we have FX:EURAUD             . This Pair is currently Bearish .

Monthly:
2009: Price was bearish and Broke Major Support (1.59) in 2010. Price became Bullish to test new found resistance (1.59) but was unable to break this level.

RSI: Bearish Territory

EMA: 200 Acting as magnetic resistance (1.59) level.
50: Price has recently broken this EMA acting as Magnetic Support.

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Weekly:

Resistance was tested (2014,2015,2016) All times unsuccessful in breaking this level with Aggressive rejection making price bearish .

FIB: 0.5 Retracement. 0.382 Broken

2015: Lower lows and Lower highs Forming till present (See Chart + Arrows)

Lower Trend Line (2012- Present) recently Broken, making price potentially Bearish

EMA:
(2015) 200 acting as magnetic support 2015 - present but bears have recently pushed price below 200 making price potentially bearish
All other EMA Currently above price ( Bearish )

RSI:
Bearish Territory

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Daily

EMA:
200 Acting as Magnetic Resistance. Signalling bearish . (September 2016)
all other EMA above price ( Bearish )

Duration of Trade: Long Term

Decision: I have decided on Evidence above to be Bearish on this Pair. I believe the future of this pair can be Bearish potentially for years to come due to common bearish Signals.

I will Be applying a
sell stop: 1.4323
SL: 1.4522
TP1: 1.4078
TP2: 1.3929

Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post your analysis below.

Remember to always trade your strategy
Happy Trading.
2 months ago
Comment: broken support. 1st TP in progress
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