» EUR/AUD - Euro Australian Dollar, European Session - 16/05/08

1,6377. EUR AUD is in a consolidation after the last bearish movement. EUR AUD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Bollinger bands are parallel and form the trend. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR AUD. The downtrend should continue to gather momentum. The price should find a support above 1,6350. We won’t take a position. The risk/reward ratio is too high to take a position..