EUR/AUD breaking down and ready to move further to the downside

FX:EURAUD   Euro Fx/Australian Dollar
As of 12/30/2014 @ 19:56 EST:

We have identified EUR/AUD             as a short candidate as this pair is starting to roll over on the daily chart . A look at the weekly will show a head and shoulders pattern developing with some downside bias, If you look further out to the monthly chart you will see the longer-term trend is to the downside.

The Global Currency Scalper likes to see that the EUR/AUD             has broken its short-term up channel trend on the daily chart , followed by a period of consolidation which cracked to the downside earlier today. We will be taking a short trade if this pair takes out the 1.48220 level. The Global Currency Scalper is forecasting a move to the 1.47400 level which could eventually see a move down to the figure of 1.47000. A stop will be placed at 1.49600. If EUR/AUD             were to take out this level prior to initiating a position then our view will turn neutral and further assessment of this pair will be needed.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out