unique4x
Long

EURAUD is Priming for Another Run Higher

FX:EURAUD   Euro Fx/Australian Dollar
EUR/AUD             tested a solid support level 1.37 in the second half of April             , and since then the exchange rate has been in a strong upward trend. Right now the Euro             is undergoing a bearish correction, but the decline should come to an end around 1.4730 which is the 200 SMA on this 4H chart. The rising trend is very near this 200 SMA , hanging around 1.4680. From there EUR/AUD             is likely to launch another attack on the 2014 Dec             high of 1.5330.

We would like to see confirmation by the MACD turning positive as the pair holds the trendline and/or the SMA before entering a position. This pair is one to watch over the coming days.
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