Home Trade Ideas EURAUD – SHORT – 12th October 2017

EURAUD – SHORT – 12th October 2017

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EURAUD – SHORT – 12th October 2017

 

 

 

 

 

 

 

 

 

 

 

 

The daily chart has had a strong rejection on todays close with price closing on its lows, this is also a potential double top forming along with MACD divergence. Our bias for tomorrows session is to the short side.

 

 

 

 

 

 

 

 

 

 

 

 

The H1 chart shows price now below the 50EMA. We will look to initiate a short trade if price retraces to the daily pivot which should also align with the H1 50EMA. Or stop loss will be above R1 and our target at S1 which also aligns with the next S/R level.