Shorting EUR/AUD on the H4 close.Price has broken past the previous minor support @ 1.4380 with a strong Engulfing candle.Reasons to consider for short are as follows :
ADX TURNING BEARISH :
COMPLETION OF ALMOST 60% RETRACEMENT OF LAST LEG :
PRICE REJECTING THE 20 PERIOD MA ON DAY TF :
LAST BUT SIMPLY THE BEST REASON (BEARISH TREND) :
Goodluck ;)
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ANOTHER PERSPECTIVE : =====================
POSSIBLE TARGETS FOR DAY TF : ============================