The EUR/AUD currency pair is currently showing a bearish outlook. This potential downside movement is indicated by a shift in trend direction, from a prior uptrend to the beginning of a downward move.
Additionally, the presence of a swing high pattern confirms weakening momentum on the buy side. The potential development of a double top pattern, a classic bearish reversal signal, further supports the expectation of continued downward pressure.
Recommendation:
- Sell EUR/AUD
- Entry: 1.78650
- Take Profit 1: 1.78250
- Take Profit 2: 1.77850
- Stop Loss: 1.79050
*DISCLAIMER: All content in daily forex news is informative. PT. Maxco Futures does not guarantee its accuracy and completeness. The company is not responsible for investment losses due to the use of the information contained.
