Hi,
Here's my idea on EUR/AUD
This is how I see it. Pull back to the recent resistance and strong reaction, breaking through the recent buyer. I will be watching the next move for a potential sell towards the recent low even though it could have more downside potential (based on the weekly recent support level). However, I will be aiming towards 1.5270 as initial target zone since the price stopped many times there so it could be a problem again. Will see if it can drop further.
EUR looks more like neutral in terms of strength among the crosses whereas AUD looks very strong.
Here's my idea on EUR/AUD
This is how I see it. Pull back to the recent resistance and strong reaction, breaking through the recent buyer. I will be watching the next move for a potential sell towards the recent low even though it could have more downside potential (based on the weekly recent support level). However, I will be aiming towards 1.5270 as initial target zone since the price stopped many times there so it could be a problem again. Will see if it can drop further.
EUR looks more like neutral in terms of strength among the crosses whereas AUD looks very strong.
Comment:
From the weekly we've got an inside and strong pin bar sequence which creates the fakey setup. That's why I think it could fall further. But let's see.
