SantanderCapital
Short

EUR/AUD The Cluster

FX:EURAUD   Euro / Australian Dollar
209 2 8
Chart: Daily
Market: Bearish

Bearish Indicators:

1. 20 EMA (blue line) below 50 EMA (red line) - bear trend
2. Price rejecting 1.4900 price zone
3. High test candle (24th of March) open & close below 20 EMA
4. High test candle (24th March) high at 20 EMA (blue circle)
4. Cluster of high test candles from 24th march - 28th march (blue rectangle )

Risk Management
Risk/Reward: 1:2.56
Stop zone: 1.49300 or just above 24th of march high
Target zone: 1.45200 or at evidence of reversal

Agree/Disagree? Comment Below!
Comment: Trade Closed. Stop Hit.
Double bottom on weekly doesn't bother you? :)
Reply
Not really. My overall view based on daily chart & recent price action, is still a bearish direction. However, since the stop was hit it's best to wait for a clearer setup - markets too choppy.
Reply
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