EURAUD - NEXT MOVE IN THE 'SIMPLE TREND FOLLOWING STRATEGY'
After a fairly significant retracement we have what appears to be a Ascending Broadening Wedge formation.
A recent bounce off that structure would indicate a bullish future for this pair. Its at a state of consolidation
at the moment (wicks in both directions) RSI is right where I like to see it on this pair recently in deep
oversold territory. So with the LOW of this Wedge back in September and now with what looks like
a higher low I'm just waiting for a LARGE HA GREEN candle to punch up through the 8/14 MA lines
and it's a BUY. Let's wait and see.....
A recent bounce off that structure would indicate a bullish future for this pair. Its at a state of consolidation
at the moment (wicks in both directions) RSI is right where I like to see it on this pair recently in deep
oversold territory. So with the LOW of this Wedge back in September and now with what looks like
a higher low I'm just waiting for a LARGE HA GREEN candle to punch up through the 8/14 MA lines
and it's a BUY. Let's wait and see.....
