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A opinion about the EURAUD 1 hour chart

Profile photo of Nuno Lampreia – Forex.Today by Nuno Lampreia – Forex.Today
2015-09-17_00-08-55euraud Forextoday

2015-09-17_00-08-55euraud Forextoday

One thing I like about this chart is that price broke support and provided us with a lower low.

The second thing I like about it is that price is below the two major moving averages.

I would therefore recommend to take short positions on this pair.

A nice entry would be if price retraces back to the blue zone prints a reversal pattern to confirm our bearish bias.

Best of PIPS

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