Get started

Eur-aud-sell

EUR/AUD Short from Resistance Level + Bearish channel | SELLEUR/AUD also like all the EUR pairs, it's inside a Bearish channel was, in the last sessions after a deep Pullback on the Dynamic trendline of the Bearish channel, works like Resistance, and after a retested again of the price level 1.4700, seems ready to follow the Bearish Main trend with a New Push down. The Stochastic it's outside the Overbought level with a Divergence meanwhile the RSI is still on the Bearish side. The price is under the 200 Sma and all these clues are for a Bearish continuation of the trend.
Short
by FOREXN1
3
EUR/AUD - SHORTSummary EUR/AUD has formed a large ascending channel on the daily with clear middle section. We have now created an extension at the third touch point in another slight ascending with clear middle section, the set up is most probable for a sell set-up in the 1.58400 area. Counter Argument E/A could move up to the highs before a reversal takes place, although the structure is extremely clean, there is no additional confluence from a double top of area of high value. The Short set up is in higher favour as this is the only confluence factor for counter at the moment. How would i look to take this? As you can see, i have forecasted a corrective move towards the third touch. I would look to take a bearish engulfing candle for a risk entry or wait for the first push and 1HR or 15M flag formation, to take a reduced risk. Where price is currently we could scoop back down to the previous day low before catching momentum but this still aligns with the longer term approach and structure. Hope this helps!
Short
by HarrisonForexx