FX:EURAUD   Euro Fx/Australian Dollar
216 1 4
Follow up to my previous analysis for EURAUD             (https://www.tradingview.com/v/mQMppt3r)

Price managed to make 3 bearish candles and broke the low of the previous bullish bar. If today's close is bearish , it would be good news for shorts. But if it forms a pinbar (reversing losses on ECB conf.) then we wait for more validation.

Enter on a retest of the trend line (probably next week...?) or if price breaks the neckline then on a retest of the neckline. But I expect some bounce once price hits the neckline/support zone. 1.53628 will be a level to watch out for. Fib levels to act as partial profit booking.

Today ECB review and on Friday we have RBA Gov             . speech and NFP later, so tread with caution.

Note: EURAUD             shorts will work only on a weaker Euro             , assuming RBA could talk down the Aussie again.
Weekly charts, show a bearish engulfing candle being formed at the time of writing, if this continues, it adds weight to the short bias. I suppose EOD             today will give further clues.
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Evild0er
2 years ago
Seems like we're breaking the neckline today :)
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