Kumowizard

Careful with shorts! Momentum loss at bullish weekly trendline

FX:EURAUD   Euro Fx/Australian Dollar
63 1 6
Weekly:
- Ichimoku setup is bearish .
- Heikin-Ashi is bearish .
- EWO is bearish
- But Price reached major Bullish trendline which means a strong resistance for bears.

Daily:
- Ichimoku is bearish
- EWO is bearish but has some positive divergence
- Heikin-Ashi pattern shows indecision, haDelta/SMA3 is ticking higher (short term positive divergence)

Be very careful here! The bias is bearish , but current level doesn't provide very good risk/reward for shorts.
If it pulls back to 1,48-1,49, then we can examine the pair for short setup again.
IvanLabrie PRO
7 months ago
Agreed, this is a pair I wouldn't touch for a while, and just long gbpaud/gbpnzd.
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