Yesterday's candle on EUR/AUD closed as a doji. The setup even more enticing for the bears, the candle materialized just below the 50% Fibonacci retracement level and a bearish divergence has materialized with Stochastic making higher highs while price is making lower highs. If you're thinking of shorting the pair, just be careful not to go loco. A strong bullish close above yesterday's high may just signal that EUR/AUD will trade back up to 1.3.
EUR/AUD It Bears Time - September 5, 2012
Yesterday's candle on EUR/AUD closed as a doji. The setup even more enticing for the bears, the candle materialized just below the 50% Fibonacci retracement level and a bearish divergence has materialized with Stochastic making higher highs while price is making lower highs. If you're thinking of shorting the pair, just be careful not to go loco. A strong bullish close above yesterday's high may just signal that EUR/AUD will trade back up to 1.3.
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