nmike

EurAud RELIABLE topping / bottoming setup

Short
FX:EURAUD   Euro / Australian Dollar
34
When Trix is overextended and diverging from price and Fisher it's a sign of a top or bottom, a reliable confirmation is when Fisher forms a sharp point and turns down. Currently candlestick price action is bearish, below the 10 ma, below the .236 Fib. level and all TRIXs are pointing down. Near term price target is at trend line support, failure to hold could see EurAud fall to the .382 Fib level...... Indicator patterns and divergences must be confirmed by candlestick reversal patterns.

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