EURAUD Descending wedge?

Scott Barkley ProAct Traders

Currently we are @ 0.8619 in a descending wedge pattern. IF we\can break this support, we are looking to continue to the 0.618 Fibo @ 0.8550 and then to the 0.786 Fibo @ 0.8485. The average daily true range (ATR) for the pair currently is 115 pips.

Author

Scott Barkley

ProAct Traders

Scott Barkley is the President of ProAct Traders LLC located in Round Rock, Texas. Scott graduated from the institute For Latin American Studies in Cuernavaca, Mexico.

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