FX_IDC:EURAUD EURO / AUSTRALIAN DOLLAR
Last week's close caused a 9 week downtrend to be active in EURAUD until proven otherwise. Supporting this detach was a nice daily range expansion from the developing 9 week mode, whose retrace offered a 6.5R short that was not taken. This downtrend has a target right at the retest of the huge monthly mode (a monthly uptrend is currently active), with RgMov putting in new daily 2 month lows. The suspected strength in AUD, at least in the near term, is also demonstrated in Ivan Labrie's GBPAUD short setup, which is shared as a link below. GL!