jangseohee
Short

Long Term Downtrend Channel

FX:EURAUD   Euro Fx/Australian Dollar
128 1 2
Comparing EURUSD             to EURAUD             , the latter has a totally different irregularity than the former.
Since EUR started to be traded against AUD, the price was in a elongated pentahedron consolidation until Aug 2008 in which it took a 4-5 month buying frenzy which then developed into a long term downtrend channel as shown in the red.

The price will continue to plunge, however, it can either follow the path 1 or 2 which remains to be develop in time to come
P.S. There is a sub-price possibility of the price break out of the downtrend resistance.

Long live shorties!!
FXLookingbest
2 years ago
Very good
Reply
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