martinwylie

Short setup against weekly support/resistance

Short
FX:EURAUD   Euro / Australian Dollar
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1
Well respected line of resistance and test candle forming, close above 1.5000 could negate the trade, stop is above the high. Fundamentally, whilst AUD is weak it is at yearly lows, whereas EUR had bounced and looks to be retracing from the highs after a trend-line break/fake. Comparing both against benchmark of the USD, EUR looks to have the greater downside risk.

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