EUR/AUD: 4-hour
Lower highs and higher lows… Why, that’s a bearish divergence right there! EUR/AUD is currently testing the descending trend line on its 4-hour forex time frame and may be ready to head back south. If this setup meets the 9 Rules for Trading Divergences, the resistance around the 1.3900 major psychological level might hold and push the pair down to its previous lows near 1.3700. Stochastic seems to be crossing down anyway, hinting that sellers are about to take control of price action. Just make sure you set your stop above the 1.4000 handle if you’re planning on shorting!
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