Evidently forming Lower Highs and Lower Lows, EURAUD is developing early bearish momentum. A rejection of any of the highlighted Fib levels will present great opportunity to take sells and form new Lower Lows with targets being the Fib Extensions at 1.60478 and 1.59966.
Trade active:
Price moving as anticipated
Comment:
Stil in a downtrend and short positions maintained at the Fib levels. A break of 1.60881 will make way for the targets to be achieved
Comment:
Initially in profit but price has now gone into a choppy phase