EUR/AUD

Price on the larger time frame has reached a new high. Last week price has simply consolidated between 1.71000 resistance zone and 1.67864 neckline of the double top. Once the market opens, I anticipate price to fall down towards the neckline and probably breakout of the neckline and current ascending trendline, to establish a new channel.

My personal short term trade setup is a sell order, confirmation will be the breakout of the 1.69246 support level, with the target being 1.67864.

Order cancelled