ElemontFX
Short

EURAUD BEARISH DIVERGENCE SETUP

FX:EURAUD   Euro / Australian Dollar
EURAUD is signalling bearish divergence, with lower lows and lower highs in RSI while price has increased.

Enter short on break of channel, targeting support.
Trade invalid if channel does not break, or resistance breaks.

Note trend is up, so we are looking for a corrective move and to get out on any bullish reversal signals.
Dec 21
Comment: Bearish fade is still valid, as divergence holds and price action displays double top. You could short here with SL above the high. Exit if RSI trend is broken.
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