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KarYong

EURAUD - Short Term downside

Short
Euro / Australian Dollar (FX:EURAUD)  
KarYong Updated   
FX:EURAUD   Euro / Australian Dollar
EURAUD technical Divergence Relative Strength Index (RSI) Elliott Wave Wedge diagonal
13
9
euraud technical divergence relativestrengthindex elliottwaves wedgepattern diagonal
A good opportunity to short this pair for the short term with the following confluences -

1) We have an RSI divergence
2) We have a technical wedge pattern
3) We have a completed 3rd wave structure between 161.8% and 200% extension
Comment:
The impulsive fall this moving fuelled by the positive AUD GDP is giving us more confirmation that we might see this pair reach for the 1.4732 area.

However, price might see some support around the 1.4920 area.

Shift your stops to protect your trade.

snapshot
Comment:

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