mustard

EURAUD Weekly Chart Watch

FX:EURAUD   Euro Fx/Australian Dollar
169 4 0
The bull move which began in April 2013 has reached a pivotal position.

The CD leg of the move faltered at the 1.272 fib extension of the AB leg, following a classic harmonic scenario.

The subsequent correction down has hit previous support at the 1.5000 price level.

If this support holds then a retest of resistance at the 1.5890 area could follow.

A break above targets a completion of an AB=CD pattern around 1.6760.

A break below 1.5000 targets previous support at the 1.4000 level.
FaultyKid
2 years ago
Are you looking for a break below 1.500 or a close below 1.500
Reply
mustard
2 years ago
A strong close below 1.5000 would be a good sign of a bearish continuation.
Reply
FxRanger
7 months ago
YOU LUZER SAME DISASTER
Reply
mustard FxRanger
7 months ago
Strange you should say that, it broke the 1.50 support and hit my target of 1.40 exactly as stated.
Reply
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