FX.co - EUR/AUD: inverse head and shoulders triggered, buy now

2016-09-21T01:43:07

Long-term review

Price has dropped to our major support level at 1.4750 (Fibonacci retracement) where we expect a bounce from to at least 1.5100.

RSI (21) is seeing major support right below current RSI, which signals a bullish bounce is fast approaching.

Stochastics (21,3,3) is also seeing major support at the 5% level and has started to turn up, signalling a bounce is approaching.

Buy above 1.4750. Stop loss is at 1.4570. Take profit is at 1.5100.

EUR/AUD: inverse head and shoulders triggered, buy now

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ EUR/AUD: inverse head and shoulders triggered, buy now