The currency pair Euro to Australian Dollar EUR/AUD is trading at 1.4150. At the moment, the pair is testing the area of the right shoulder of the head and shoulders reversal pattern and at the moment the potential for falling of the pair’s quotes to the area below the level of 1.4050 remains.
Technical analysis and forecast EUR/AUD on April 12, 2017
With the breakdown of the area of the Neck line, it is expected to accelerate the fall in the quotes of the EUR/AUD pair. The overall goal of the decline is entering the area at a level below 1.3570. The cancellation of the variant of falling quotations will be a strong growth and breakdown of the area of 1.43, which will indicate the continuation of the development of the upward trend.
Technical analysis and forecast EUR/AUD on April 12, 2017 involves an attempt to fall within the framework of the start of the development of the reversal Forex Head and Shoulders models with the potential target of reducing near the area of 1.3570, cancel the breakdown test at the level of the right shoulder.
