. There is still a possibility of temporary retracement to suggested resistance line (1.6688). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EURAUD is in a range bound and the beginning of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The is at 60.
TP1= @ 1.6447
TP2= @ 1.6353
TP3= @ 1.6250
SL= Break above R2
They are some how different because here time frame H4 is used. How ever it has the same direction with weekly forecast and Trend hunter strategy.
The DTO (daily trading opportunity) that published on the website (http://www.forecastcity.com) is used in the simple trend hunter strategy.
To read more about trend hunter strategy please visit the page: http://www.forecastcity.com/en/trend-hunter
And according to the weekly forecast of EURAUD the Beginning Of Downtrend is expected which is the same as this post.