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EUR/AUD: double top, pin bar, possible down move

EUR/AUD: double top and the price is under the neckline of the formation, which shows a downward move

CCI(50) is under 0, RSi under 50 -signals for short

Pin bar after the test of the break of the double top at level 1.5617 – signal for short

Price is under the MA’s

Sentiment: Mario Draghi gave a hint for possible new stimulus, which can give a short-term power to the stock market and a down move for the EURO, which affects negative to EUR/AUD

A sell now is possible, or after a little correction to minimize risk from a big stop loss

Stefan D. Angelov – Head of Stocks Trading

 


 Varchev Traders


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