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!!
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!!
