EUR/AUD Update: High intensity down trend


29 MAY 2018

The high intensity down trend has just surpassed the first target at 1.5410. The next target comes in at 1.5140 which is well into the weekly cloud support and about mid-way the lengthy and highly volatile weekly trading range.  Hold short and add-short on rallies if they occur; there is still significant room to the down side before real support can be expected.

  • Near term trend: negative
  • Long term trend: neutral
  • Outlook: fierce correction, negative
  • Strategy: hold-short / sell rallies
  • Support: 1.5410 / 1.5140* / 1.4645-
  • Resistance: 1.5580 / 1.5650 / 1.5790
  • Outlook cancelled/neutralized above 1.5650

420-minute Intraday chart EUR/AUD