EUR/AUD LONG

3 Mar 2019

We have a beautiful inverted Head and Shoulders pattern here on EA playing out. This week we had a strong break & close above the neckline of this pattern, which is an extremely strong resistance level we can now look to act as support. Price is setting a HH while trading above both SMAs as well. This pair has a nice potential to move higher this week, though we may see it correct the first day or two of the week before heading higher. I will be waiting for a retest of support to hold before continuing higher.