There market is trending on
EURAUD
on a daily chart. It makes Lower High and Lower Lows, which means going downtrend. Currently, it is closed to its previous high and it is more likely that market bounce it back and continued downtrend. Moreover, Gartley pattern apprears on Daily chart, which increases the probability of this trade to go short. Also, there is a nice Risk/Reward Ratio.
T1 - 38.2
T2 - 61.8
EURAUD
on a daily chart. It makes Lower High and Lower Lows, which means going downtrend. Currently, it is closed to its previous high and it is more likely that market bounce it back and continued downtrend. Moreover, Gartley pattern apprears on Daily chart, which increases the probability of this trade to go short. Also, there is a nice Risk/Reward Ratio. T1 - 38.2
T2 - 61.8
Commentaire:
Note: There are some major news expected in US market. EURAUD is a cross currency, but it may effect it too. USD is correlated to every currency pair at some point.