EURAUD short-able position around 1.6300
Although EURAUD is in uptrend, the price is quite far away from the trend line, which indicates the support of trend sitting at 1.5850.
1.6350 had been tested four time from Sept to Oct, showing the resistance quite strong. Now it is more likely to trade in a bounce range between 1.6000 and 1.6350. Also, the MACD
keeps falling, while the price is rising; it is kinda a signal that traders should notice that the buy side is fading away.
Any position above 1.6300 is worth to short.
1.6350 had been tested four time from Sept to Oct, showing the resistance quite strong. Now it is more likely to trade in a bounce range between 1.6000 and 1.6350. Also, the MACD
keeps falling, while the price is rising; it is kinda a signal that traders should notice that the buy side is fading away.
Any position above 1.6300 is worth to short.
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