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EURAUD a possibility for short positions from key resistance levels

EURAUD Daily

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EURAUD forex technical analysis Our expectations:

A second test of the breakout below the main diagonal of the long-term upward trend. Correction to 50% Fibonacci on short-term downward movement. Resistance levels enable short positioning with SL 1.5920.

A probability for a death crossing SMA50 below SMA200 - negative signal.

A pin bar and adjustment to over 50% of the bar gives a good price for entry from the current levels, as more conservative we can wait for a test of the top of the pin bar.

Alternative scenario: Breaking the price above the resistances and the moving averages will activate H & S which will give more reason for long positions.


 Trader Nikolay Georgiev

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