The Euro Australian Dollar.

Good evening Dynamic Traders,

Tonights chart is of the EURAUD on the daily timeframe.

Todays price action is giving a short signal, but I am using a little caution here as it currently stands at a fibonacci cluster reversal area, together with a good '00' figure just south which is also in close proximity to a quite strong former R/S zone area.

There are also two kinds of convergences going on with the sub chart indicator over the longer and shorter term and varying timeframes.

I am going to wait a little longer on this pair for price to show its hand a little more but for the more risk adverse of you, you may wish to take the aggresive stance, as all trends are down and GetStochastics is showing the false bars to the downside.

As always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.