EURAUD August 13th 2015.

stephane

Private, 1st Class
Messages
114
Obviously this is a bullish trend, but the pair rejected already twice the 1,525 resistance line, and looks like entering a consolidation triangle with that 1,525 level as resistance, and a support trend line -may be the daily 40 SMA, small deep blue line- as support.

The bullish trend looks still strong, I will however favor buying dips on supports, that is 1,50, 1,49, and 1,485. I will also buy a confirmed break out of 1,525.

On the bearish side, i will sell a confirmed break out of 1,485 and a third rejection of the 1,525, cautiously for third attempts have a bad habit of succeeding sometimes.

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