EURAUD: The Downside Prevails (update)

12 Nis 2014

The price touched levels near the 1.618 retracement level before forming a long-legged doji candle, which pushed price higher on Friday, however price has retested the near term resistance at 1.4830 which is the first level i will consider shorting at, targeting the recent swing low at 1.4650 level as as a first target. Closing a Four-hour candle above 1.4850 will probably signal more upside correctional bias toward the next resistance at 1.4960 the second level of interest to short at.

Note: Some drawings unchanged since last analysis. Check last analysis in the link below

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