Kumowizard
Short

EURAUD - Is the corrective move close to end?

FX:EURAUD   Euro Fx/Australian Dollar
107 0 2
Always the higher time frame matters. Looking at purely the Ichimoku setup, EURAUD             has reached a very strong support at 1,4350-1,4400.

Daily: Not much change since my last post. Please see the link below. (Note: actually I adjusted the downtrendline a bit, fitting it to candle peaks, not it is matching more the Kumo). In terms of Ichimoku strategy it is a sell level for this pair, with a tight stop to be placed above Kumo and/or the upper horizontal Key level.
Slow Stoch turning down, DMI             and MACD a bit worrying. Stop has to be placed above 1,4510.
Lower resistance is 1,4180.

4 Hrs: Still in counter trend mode, but Tenkan, Kijun and Senkou lines started to flat out a bit. If 1, 4410             holds it would likely turn down again in one or maybe in two steps.

Strategy: Based on daily small short is recommended here. Adding to short will make sense only if we see a sell signal again on 4 Hrs time frame too.
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