EURAUD - A fakeout or a move higher?

FX:EURAUD   Euro / Australian Dollar
527 54 8
Recent Aussie weakness saw the Euro             rally furiously. Price is now back to the upper end of the price channel .
Comparing to Stochs, there seems to be a 'Hidden Bearish Divergence' in play here?

However, if price declines, 1.40505 is now a strong support level . If it holds declines, then EURAUD             could push higher. I expect this to be tested next Tuesday during RBA's meeting.

A break below 1.40505 will then see 1.37283 being tested.
And I was doubting if 1.40 would be even reached. Man these moves are wild.
jangseohee justatrader
going for the neckline \(^_^)/
Agree. I revised my targets much lower based on this.
+1 Reply
justatrader PRO justatrader
1.315 rounded off
jangseohee justatrader
it would be an abyss after that ^_^
If bear flag is valid.. then 1.3728 might offer some support, else a dip to 1.3353, which will surely act as support and push prices back to 1.3728 and then a decline lower. 1.28 looks very tempting to set TP to. Lol!!!
+1 Reply
jangseohee justatrader
i can just say, Poor EURO
after MASSIVE rejection
look at the price now
jangseohee jangseohee
massive bear flag..if the bear channel support cant hold, i cant imagine the tumble ^_^
are you still in the trade? I am, from 1.435. Looking to aim for 1.375 and 1.35 (the +ve swaps are the icing on the cake)
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