EURAUD - is that a butterfly in the making?

FX:EURAUD   Euro / Australian Dollar
74 1 2
Just wondering whether this is a valid pattern in the making. Anyway it is a good location to look for long near support zone 1.4360.
That does look like a possible Butterfly, although it does not
have the "symmetrical Look" that I personally like to see.
And, as you have noted on the chart it falls just below nearby
support and is above the next support at 1.43020 area
so, I will only be enticed to trade if it tests that support
and then snaps back up. That would also create a good
price for stops should it reverse back down.
Best wishes for lots of pips in your pocket !
+1 Reply
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