Fundamentals:- The Euro is still one of the weakest currencies out there at the moment and with further stimulus likely in March from the ECB we should see further downside. The AUD has been showing some strength in the economy but still has some mixed data. It is the technical picture that makes this trade more attractive at the moment.
Technicals:- As you can see on the charts I have highlighted a very clear double top pattern and the price is currently sat on the breakout point after rejecting the recent attempt to move higher. I am looking for a new low on this daily candle to enter with a stop loss above the recent rejection.
Technicals:- As you can see on the charts I have highlighted a very clear double top pattern and the price is currently sat on the breakout point after rejecting the recent attempt to move higher. I am looking for a new low on this daily candle to enter with a stop loss above the recent rejection.