EURAUD; Bearish Again

FX:EURAUD   Euro / Australian Dollar
On the back of weak commodity prices and a higher inflation in Euro             Zone, this pair had started an amazing rally since April which came to an apex during the dramatic scenes of 24th August.

Now that the commodities have started decent rallies recently on one hand and ECB's Draghi today has signaled a willingness to expand the QE program if needed, this rally is doomed to end. The ascending trend line is going to break today and this is a good opportunity to go short. More conservative traders might wait to see the break down of 1.5398 support and then go short.

Stop loss level should be put at 1.5822 swing high. That was the last time the bulls tried to bounce off the trend line .

Good luck,

Ali             Sharif Azadeh, CFTe
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out