EURAUD, We have seen a massive bullish momentum recently on this pair creating new highs that have not been achieved since September 2009. we have had two strong weekly rejections from 1.66908 which gives me an idea that we could go bearish if we do not break this level.
If we can break out of this price structure and get a strong close and retest of 1.52906 I believe price will fall to respect the weekly TL I have marked. And even looking at candle stick language when there have been large wicks in this area price has fallen and we almost have a shooting star to give us this signal.
If we can break out of this price structure and get a strong close and retest of 1.52906 I believe price will fall to respect the weekly TL I have marked. And even looking at candle stick language when there have been large wicks in this area price has fallen and we almost have a shooting star to give us this signal.