EURAUD It is all downhill from here

The EURO is getting hit from pillar to post. Price movement favors the downside.

Look back and you will see what may occur again.


1. Consolidation

- Past = 72 bars

- Present = 64 bars


2. Trendline break

- Past = 10 bars and 500 pips

- Present = 4 bars and 480 pips.


3. Support break

- Past - at 153.50

- Present = 143.20


The consolidation and trendline break are roughly similar in duration and magnitude.

Choices I see are

1 Short now - on a break of 1.4800

2. Short later - at break of 1.4300