ifxguru
Short

Short EURAUD at top trendline

FX:EURAUD   Euro / Australian Dollar
There's a potential falling wedge developing here.
I suggest going short if price travels under the highest low.
If it overshoots the trendline , then I'd be skeptical.
Watch it during the coming days.
Following the script.
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Chance to scale in on the pullback to the sideways arrow level.
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Price reached my potential support area. It'll move sideways or slightly up for a couple of days.
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Intense move down, time for euro pairs to retrace now.
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Trendlines are not that important, as you can see, price reversed as expected.
'But isn't this because of the interest rates decision?'
Yes and no, always focus on technical analysis first...news are just a good way to time volatility.
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