Taking Another Shot with EUR/AUD

My previous EUR/AUD short may not have gone my way but that doesn’t mean I’m gonna give up trading this pair. The bearish fundamental bias is looking a lot stronger these days, as the ECB is expected to be more dovish with their rate statement while the Australian economy has just released an upbeat jobs report.

EUR/AUD Daily Forex Chart

EUR/AUD Daily Forex Chart

The pair has already bounced off the support-turned-resistance area at 1.5000 and is showing enough selling momentum at the moment. In fact, there’s a neat bearish divergence with stochastic making higher highs and price making lower highs.

Think I should jump in ahead of the ECB rate decision?


Happy time

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