EURAUD - TP and move to sideline. Heikin Ashi warning signal

FX:EURAUD   Euro Fx/Australian Dollar
124 2 2
- On back of RBA rate decision (on hold) Price turned sharply down after testing Kumo, however since China Trade ballance was disappointing, AUD failed to strengthen further. Could not make a lower low
- Ichimoku setup is still bearish , but thie bearish bias is decreasing: no lower low in Price, Tenkan is still above Kijun Sen, both averages are flat
- Heikin Ashi gave a serious warning signal: inside candle yesterday, followed by inside and already green candle today! haDelta/SMA3 up from extreme low level

retest of Kijun Sen or the Kumo is possible again. Pull back tgt             1,41-1,42

- Ichimoku setup is still bearish , but DMI             already shows weakness in the bearish momentum
- Heikin Ashi signal is bullish: green candle switch from Tenkan Sen + haDelta/SMA3 bullish cross above zero line.
- bearish support is ard 1,41

Scale back your EURAUD             shorts! If you consider to take a swing Long position, do it only with 0,5 trade unit with wider stop at 1,3800
2 years ago
good point, i still think its trending downwards strong but for the time being will move up due to buyers coming into the market.
Will have to see but
Kumowizard PRO Moylal09
2 years ago
yes, there is some problem with the momentum of the trend in the last two days. According to the signals it is better to reduce short exposure a bit.
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