Forecast of the currency pair EUR / AUD 00
Today we will take a look at the EUR / AUD currency pair. At the time of writing, a trading signal to sell was forming. Pay attention to the price chart - we are witnessing the formation of a “head and shoulders” reversal pattern. In addition, the return of quotations at 1.7085 will increase the risk of its decline to 1.7010 and further to 1.6970.
The main scenario.
Break of support 1.7085 activates a bearish scenario, taking into account the decline to 1.7010 and further to 1.6970. A break of the marked levels will indicate the willingness of sellers to develop a more powerful wave of sales in the medium term.
The return of quotes above 1.7135 will cancel the main scenario, indicating a clear weakness of sellers. At the same time, buyers remain at risk.
Today, there are not a lot of news releases, so only the appearance of unexpected news and / or comments can trigger a surge in trading activity. Otherwise, we will observe moderate trading volatility.
The above review is not a direct guide to action, but carries an exclusively recommendatory nature.
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