Looks like a bearish bat pattern is nearing completion on the 60 for EURAUD (though point C is neither a .382 or a .886...) This is nice because it's going with the bearish trend and although we're seeing some bearish movement, I'm hoping that's just so it can get enough steam to make it to the .886.
RSI(14, close) shows we're almost overbought using 80 as...
EURAUD daily setup:
- Price is within a daily descending channel and currently putting in a third touch of the upper boundary acting as resistance
- We have a daily Fibonacci setup with price currently below the 61.8 level which is confluent with the descending channel
- Price is also below the daily 200MA which is confluent with both the 61.8 fib level and...
