The Euro Australian Dollar.

Good morning Dynamic Traders,

I hope you all have had a good Easter break and are now fully recharged for the upcoming trading opportunities.
Today may well be lacking volatility due to the Bank Holiday period but you can now start planning for the week ahead.

I have currently got the EURAUD on my watchlist, for a possible swing trade coming.

Its short and medium term trends are down whilst the longer term is still up and price action has come out of its consolidation range but is in close proximity to the figure and a fibonacci cluster, and therefore could turn out to be false.

Todays candle is showing a hanging man formation, although it is far from over, and the sub chart indicator has got clear convergence.

For further downward movement use your ESLT, otherwise be patient and trade north should your confluences dictate together with your own T.P. rules.

Charts courtesy of AdvancedGet.

Always have fun with your trading and analysis.

Clayton Farnworth.