EURAUD - Correction to 1,4200+ is possible

FX:EURAUD   Euro / Australian Dollar
94 3 6
- Ichimoku setup is bearish , but Price started to tock higher after hit the low ard             1,3800.
- Heikin Ashi candle signals only undecision, but looking at haDelta/SMA3 ( bullish cross is likely above zero line) it may extend into a larger correction towards equilibrium level ard             1,4200 - 1,4300 range. HACO has been positive for a few days.
- MACD crossed back above signal line

- Ichimoku has a neutral picture: Price, Tenkan and Kijun are all in the Kumo, Chikou Span hit candles
- DMI/ADX is neutral too (bit of bullish bias, but ADX is too low)
- Heikin Ashi setup is rather bullish short term

The correction towards 1,4200+ levels can accelerate if Price breaks above 1,3960 key level

Reduce short exposure now, try to resell at daily bearish support later.
Kumowizard PRO IvanLabrie
Well, with ECB QE it is hard to immagine 1,70 any time soon, so I'd not target that at mom. The trends are EUR bearish.
IvanLabrie PRO Kumowizard
I trust my analysis, but I also know when setups get invalidated.
Right now, I'm waiting for that falling wedge to complete to go with a bigger position.
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