EURAUD SHORTMay as well grab some pips here with the bearish divergence on the hourly. Even if it’s just like 50% ish retracement. Trend might be overall bullish... only time will tell 🙃
Euraudbears
EURAUD analysis-Sell for November 02, 2017Hey 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 free swap money.
In the monthly chart EURAUD Technical Analysis, there looks to be a potential head and shoulder pattern with recent highs testing the neck like at 1.554. Secondly, with technical formation in the daily chart, I will look to sell tomorrow especially if there is a strong break below the 20 period MA in the daily chart.
This will turn out as follows:
Sell: 1.505
Stop Loss: 1.52
Take Profit: ideal below 1.41 but look for a risk reward of 1:3
As always, let me know what you think in the comment section.
AUD Bulls drive Euro lower-Sell Tip for 17.10.2017Guys,
There is not rocket science or some AI stuff. There is an inverted hammer after last week candlestick closed, a stochastics sell signal and all importantly, a bear divergence meaning the recent above average bull volume was the final push and the consequent bull candlestick were driven by hot air.
As price action is testing 1.5, an important psychological round number, sellers should drive prices lower and maybe breach the support trend line.
There will be no problem with selling and holding this in fact you will be making cash doing so.
Trade as follows;
Sell: 1.50
Stop Loss; 1.51
Take Profit: below 1.46
More interesting analysis here: forex.today
Reach out let me know what you think.
Trade well guys.
