RonaldRayForeX

EURAUD - Awaiting Breakout !

Short
FX:EURAUD   Euro / Australian Dollar
35 views
3
Price is closing in on EURAUD
- Price has been Bearish September 2015 and We are now reaching KEY support Areas.

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- Price can Either bounce off support 1.27 into Trend line Resistance then proceed to 61.8 Retracement on Monthly Timeframe .
OR
- Break Support 1.27 and Test 61.8 Retracement on the Monthly TImeframe , Retest back onto 1.27 and Go forth of Bearish Momentum to next support.

Confirmations.
all EMA's As resistance
50 Retracement on Monthly Support (slapped in the face, Excuse my English)
2012-2016 Trendline Support Broken Also.

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I will be monitoring for potential Bearish Setups,
- EUR is not looking good at all

Let me know your thoughts :)