Currency pair analysis: EUR/AUD

EUR/AUD

The currency pair trades in the range of the upper border of the descending price channel. The ascending wave pattern of the H2 level is truncated. A false breakout of the top of wave A has formed. A bearish divergence has formed on the Awesome Oscillator, while the Stochastic Oscillator signals overbought conditions.

EUR/AUD rate online: monitor the price movement in real time.

Trading idea:

Sell when a descending wave pattern is formed, where the wave (A) breaks through the inclined channel of the truncated ascending pattern.

Stop Loss: above the local maximum of the ascending pattern.

Target levels: 1.5531; 1.5360.