SeaLionLLC

EUR/AUD momentum shift

Short
FX:EURAUD   Euro / Australian Dollar
259 views
0
$EURAUD has now put in a lower high and momentum is turned to the downside. Clearly the Euro is short term overbought against multiple currencies and while the Aussie remains stubborn against the Dollar this makes it strong against the Euro . Minor support at 1.2550 is unlikely to hold with the negative momentum behind price which is no longer consolidating.

Comments

We'll see if these spinning tops are the calm before the selloff
Reply
Yes but we will need to get past minor support first and I would be a bigger believer with more than two points on each side of the triangle
Reply
good looking out here, any opinion about the possibility of a triangle forming?
Reply