Euro Australian Dollar (EUR/AUD) - 06/05/2008 - Archive

EUR/AUD - Euro Australian Dollar

EUR/AUD - Euro Australian Dollar

Short term (Intraday)

1,6449. EUR AUD is in an downtrend directed by 1H exponential moving averages. EUR AUD is in a consolidation after the last bearish movement. The volatility is low. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,6455. The downtrend should continue to gather momentum.
=> We could take a short position at 1,6450. We will put the stop loss above 1,6500 (-50 pips). The targets are 1,6350 (+100 pips) 1,6300 (+150 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances
1,6455 - 1,6525
Supports
1,6420 - 1,6350
updated 06 mai 2008 13:16 GMT +02:00

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