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pantheo
Mar 21, 2014 7:40 PM

EURAUD: Staying short 

Euro Fx/Australian DollarFXCM

Description

Although I understand the bullish side, as price is right at intermediate uptrend line (and MA20), the fact that the weekly EURUSD chart is close to complete an evening star, will have a major effect on most pairs imho

I don't believe that the infamous daily H&S in this pair will break in the next day or two, but possibly it will finally break within the next week or two.

A bounce to 1.53 should be expected, if bulls can push hard and could be shortable level too.

I'm short @1,58 due to supply zone, fib ext confluence and momentum divergence.

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