Sell opportunity present.
Oversold stochastics in the daily and 4HR chart. Additionally, there is an over-extension to the upside after price closed above the upper BB.
Bears to aim support levels at 1.71 and 1.68
Stop loss above 1.74
Hey guys,
There is price action bear divergence pattern relative to the stochastics which are moving lower. Other than that sell signal, there is a clear double bar reversal happening at the 3rd quarter of this wedge meaning at any time there will be a break out. A break out below the 20 period MA and support trend line will be desirable for AUD bulls looking for...
Hello Guys,
Matter of fact, the Euro depreciation just begun. If you didn't catch that surge down , don't panic. Next week will offer better entries as more and more people jump, the EUR will jerk up a little bit before continuing with the plunge.
Two technical considerations advised my entry:
1. Notice that bear divergence pattern over the last 20 trading days...
Mario Draghi and ECB rate announcement in the course of the day under focus. Chances of tapering postponement is likely. Disappointed, bears should be in charge.
Trade should turn out as follows if conditions are met:
Sell Stop: 1.1955
Stop Loss above 1.1975
Take Profit: 1.1915
