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pantheo
Jun 25, 2014 9:46 AM

EURAUD: A multimonth journey maybe ending? 

Euro Fx/Australian DollarFXCM

Description

Trade opened during January and confirmed a couple weeks later as in the attached.

New positions opened at 1,5450.

Although H&S has played out yet - possible target last demand zone around 142 area -more ofter than not a failed pattern lead to reversal via short covering. In this case its a bear flag.

If supply zone doesn't hold the bulls, last remaining short positions will be stopped.

All the best

Panos

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