FeroxWealth
Short

EURAUD Potential Short Signal Update

FX:EURAUD   Euro Fx/Australian Dollar
TRADE UPDATE
Previous analysis:
EURAUD Potential Short Signal Update

Please see original analysis linked below for in-depth explanation of our short bias.

We are still awaiting a break below these blue short-term up trend lines on the hourly chart to execute a short position on this pair. We will also need to see confluence from our price action forecasting algorithm forecasting a move to the downside with a chance prediction of 85% or higher. Currently our algorithm is predicting continued movement to the upside with a chance prediction of 71%, but we will continue to monitor price action and the updates from our algorithm.

See the link below for an image of our algorithm's forecast for this pair.
http://i.imgur.com/rnV0avm.png

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