justatrader

EURAUD - Divergence Playground

FX:EURAUD   Euro Fx/Australian Dollar
239 1 3
Lots of divergences showing up here. Personally, I haven't had a great success with divergences as prices quite often tend to overshoot to create a HH or HL. This chart looks like a great study in real time on how divergences are playing out. While EURAUD             is in an uptrend, the current set up shows a correction is due. 1.50 looks like an ideal target for shorts, but it is the same level where a new higher low should be created for price to push higher.
And here is my short trade idea off 240 charts.
EURAUD, based off Euro weakness and interim Aussie strength
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