Saturday 27 February 2016
Wednesday 24 February 2016
EURAUD Analysis
EURAUD 1Hr
The EURAUD is in a down trend and is currently in wave 4, I am expecting the EURAUD to fall completing wave 5 of the 5 wave down move. The EURAUD has also hit the 38.2 Fibonacci retracement level finding supply.
EURAUD 15min
Here on the 15 min time frame you can see the EURAUD has completed an harmonic pattern rallying to the 1.618 retracement level (1.5404) of the XA leg and is currently on the verge of possibly forming and head and shoulder pattern.
Expecting the market to rally to around 1.533-1.535 before falling. However if prices rally and close above 1.537 expect higher prices. Expecting prices to fall first to 1.5261 and a strong close below this level should result in a retest of 1.5175
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