The Euro Australian Dollar.

Good morning Dynamic Traders,

Todays chart of the EURAUD on the daily timeframe could be showing possible weakness.

As can be seen from the image below the trend is down for all short, medium and long terms and price is currently trying to break former resistance, which has held recently.

From your tuition you should all know what this means, and assesment can be made at the end of the days trading as to whether this pair can be traded south using your tools and techniques.

Be aware of the figure just down from here as this too is a strong support zone clustering with former resistance, and also in the mix is a fibonacci cluster lying below here too.

Please ensure to do your own analysis before trading.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.