PLFX89
Short

EURAUD - COMPLETING SHS PATTERN

FX:EURAUD   Euro / Australian Dollar
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3
EURAUD is in correction wave from the big move down.
- The correction wave appears to be rising wedge which will completed at the right shoulder of SHS bigger pattern.
- This is not the time to sell as Correction wave has folded out yet.

I will look for bearish confirmation around 1.64 - 1.6450 with the target at 1.59 neckline position.
Oct 14
Comment: It is moving according my plan and now testing the resistance. There might be some volatility but price should be able to push through.

However, no buy at this time and pay close attention to price action at 1.64
Oct 14
Comment: EURAUD fail test the resistance at 1.633 creating another lower high. It looks like it is about to complete the right shoulder of SHS pattern. Be ready to sell the rally.
Oct 14
Comment: Choppy price action even after RBA minutes. No clear trend is detected yet; therefore, alow some noise while EURAUD rising wedge is still folding out. Big move is expected
Oct 15
Comment: another attempt to push up.
Oct 16
Comment: Very close to my idea. Open Initial position at 1.64

Comments

Choppy price action even after RBA minutes. No clear trend is detected yet; therefore, alow some noise while EURAUD rising wedge is still folding out. Big move is expected.
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