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.
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?
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