EUR/AUD reversed down

EUR/AUD reversed down

Trade idea

SELL 1.5890; TP1 1.5815; TP2 1.5740; SL 1.5910

EUR/AUD is currently testing the support line from the start of 2017. This week the pair went below the 50-week MA at 1.5965. There’s a “shooting star” (bearish pattern) on MN. On D1, we can see a complete “Head and shoulders” pattern. Notice that the pair even retested the pattern’s neckline and then was rejected further down. EUR/AUD would need to return at least above 1.60 for buyers to have a chance to turn the situation their way. The decline below 1.5895 (23.6% of the 2017-2018 advance) will open the way down to 1.5810 and 1.5740.  

EURAUD.png

Similar

Latest news

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera