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EUR/AUD down trend in 1 hour
Tuesday, March 3, 2015 9:09
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The EUR/AUD currency pair has changed the bullish movement into a down trend in one hour time frame and now it is a bearish trend. Short term resistance is present at 1.4498 level. Since yesterday, the EUR/AUD currency pair is moving down and this looks like a weak bearish leg. As long as price movement looks bearish, I would be probably looking for sell trades. If bullish candlestick closes above 1.4498 critical resistance level then down trend is going to end. In such situation, I would avoid trading and just keep re-analyzing the price movement.
Source: http://www.fxinstructor.com/blog/euraud-down-trend-in-1-hour-3
