FX:EURAUD   Euro Fx/Australian Dollar
Hey guys. Forecast here is based on the past 5 year price action.

Downtrend started near 2009 end around 2.1 then bounced for a correction in middle of 2012 which I believe we are still in.
A bullish flag is forming over the past year and a half which is currently near its resistance trendline . A break in the near future could mean a continuation of the deeper correction to .618 or .768 levels (numbers aren't showing on the chart but translucent colors are).

If we don't see a break of this resistance trendline we could see one more drop to the lower support trend line before a bullish continuation.

Thanks for analyzing and feel free to comment and critique!
timwest PRO
2 years ago
Well done. Any psychological patterns you could add to this count? Any stop loss levels?
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