FXPhantom
Short

Any counter trend trading fans on EURAUD? Shorting idea...

FX:EURAUD   Euro Fx/Australian Dollar
96 2 2
An aggressive move up might be over as pair is leaving the inner rising channel . Take short if recent low is taken. There is nice divergence on momentum oscillator and we're right at 0,786 fib retracement. Initial target at 1.519 with SL above the highs. Be careful as EUR was strong all day while we saw a free fall on AUD all day long (just printed new low). But... what we bet on is correction of this pattern.!
Note the support AUDUSD should find around 0.895 + it's quite oversold now...
snapshot
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if audusd keeps going down euraud its not a good short
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