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EUR/AUD Perhaps a Triangle Breakout

Wednesday, February 27, 2008

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Today, I was looking at EUR/AUD. What I like about this currency pair is AUD is actually getting strength across the chart, by price correlation, EUR/AUD might be getting weak.

Secondly, I found that it is showing a triangle pattern and I'm waiting for it to go down-south before entering any trade in this currency pair. But then I've seen a low bar which is significantly to my eyes at that time to be a support level. I've placed my stop order below the line at 1.5985 and I'm waiting for it to be triggered.

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