The Euro Australian Dollar.

Good evening Dynamic Traders,

Tonight I wish to revisit the EURAUD which I posted a week ago.

As said then it was offering a short signal but I was being cautious.

Price action has come to the previous R/S area which is in proximity to the figure, and the RSI indicator is below 50 and heading down and not OS, and the Get Stochastic is showing false bars to the downside as expected as all trends are down.

AdvancedGet is showing a W5 projection just south of the RS which could indicate a possible pullback and also the MOB is at this level too although its timing has passed.

Wait ot use your filters should the continuation happen or if in this trade manage well should a pullback occur.

As always do your own analysis before taking any trade.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.