EUR/AUD: Head And Shoulders

 | Feb 07, 2018 08:43AM ET


Currently we are at 1.5688 in the start of a nice channel after a heads and shoulders reversal pattern. We are looking for either a continuation to the 0.382 Fibo at 1.5594 with the next target the 0.500 Fibo at 1.5530. The average daily true range (ATR) for the pair currently is 122 pips.