joni.rcunha
Short

EURAUD: Possible 2618 Strategy

FX:EURAUD   Euro Fx/Australian Dollar
40 0 2
We have a double top at the 1.43507 area. After breaking the neckline the bearish movement apparently stopped at 1.39093 (Resistance zone - look left). Now, we expect a fibo retrace of 61.8 from A-B at the 1.41821. With the 2618 strategy, we expect to see a rally at least to the B point.
Target at 1.39093 (maybe adjusted to 1.3967)
Stop at 1.43659
Risk/Reward Ratio: 1.48

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