dcm2020

EUR/AUD ready to fall as many analyses showing a possible top.

Short
FX:EURAUD   Euro / Australian Dollar
Hi,

The FX:EURAUD its very interesting in my opinion at the moment. In the long term we have a trend line which the EURAUD its fighting right now which means that if it breaks, it will give extra pressure for the shorting side. On the Daily chart looks like we have a possible H&S formation which we re-tested the neckline yesterday and today we are breaking to new lows. On the 4hr looks like a possible flag is in play which targets the 1.5740 area.
For this reason I have shorted this pair at 5943, with SL at 6034 and TP at 5700 area (3.00 RR).


Thanks and good luck.

Comments

We need a firm break of 1.5945 to target 1.5683 support and below
Reply
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