Quick SHORT on the EURAUD: Breakout of Descending Wedge

FX:EURAUD   Euro / Australian Dollar
We can see on the H4 and D1 chart that EURAUD has accumulated enough sell pressure to breakdown from the support line of the big descending wedge , with today's highs being rejected by the bottom of the wedge line, hence flipping it to resistance @ 1.65504

Now we take a look at the technicals
- MACD going over into the red, deeply in the SELL zone
- Sell volumes increasing steadily, indicating increased shorts and interest --> Momentum for further downside (Tip: A decreasing volume in 1 direction indicates the imminent reversal of the trend)

As always, feel free to like and comment if you enjoyed my posts, trade safely and carefully!

Best Regards,
Trade closed: target reached


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