EURAUD - Overview on Weekly Timeframe - Short Opportunities
Another very interesting pair at the moment is
EURAUD
.
As we can clearly see in the weekly timeframe chart, after a trend reversal to the upside that had a nice impulsive movement between 2012 and 2014, the pair is in a big sideways move that still needs to complete itself, before resuming the uptrend. In this respect, we believe that the pair still has to complete it's "C" wave, which became more complex. Looking at the structure in these terms, we have therefore been following the structure in the ending diagonal pattern it has been forming to the upside in the recent months, which we believe is already over and will break to the downside, bringing the pair all the way to retest previous lows in the 1.35 area. Please note that this last wave to the upside, which has formed said ending diagonal, is a pattern within the C wave, and it does not have to break the previous top, because the top has already been broken by the "B" wave.
Updates on smaller timeframes will follow.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
EURAUD
. As we can clearly see in the weekly timeframe chart, after a trend reversal to the upside that had a nice impulsive movement between 2012 and 2014, the pair is in a big sideways move that still needs to complete itself, before resuming the uptrend. In this respect, we believe that the pair still has to complete it's "C" wave, which became more complex. Looking at the structure in these terms, we have therefore been following the structure in the ending diagonal pattern it has been forming to the upside in the recent months, which we believe is already over and will break to the downside, bringing the pair all the way to retest previous lows in the 1.35 area. Please note that this last wave to the upside, which has formed said ending diagonal, is a pattern within the C wave, and it does not have to break the previous top, because the top has already been broken by the "B" wave.
Updates on smaller timeframes will follow.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.