Trading EUR / AUD - Sellers Stopped Cold?
January 9, 2008 • Use Charts Better
Check out the EUR/AUD Daily. We have a rough double bottom indicating that sellers may have finished their onslaught…for now.
The 4-hour chart shows buyers powering up. This is as good as any a point to test the waters with a small probing trade. If we see a break above 1.5740 bid I’ll fee a lot more confident that sellers have probably stepped away.
If on the other hand price action breaks below 1.5495 bid then I’m out.
