EURAUD 3R Daily Sell Setup

FX_IDC:EURAUD   Euro / Australian Dollar
220 2 8
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!
Excellent Nick.
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