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EUR/AUD - Euro Australian Dollar, American Session - 13/11/08

13 Nov, 2008 @ 05:14 am ET | written by Mataf


1,9568. EUR AUD is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR AUD. The price should find a resistance below 1,9670 (102 pips). The consolidation should continue. If the resistance is broken then the target will be 2,0000 (432 pips).
We are waiting for a break of the resistance to take a long position.
Resistances
1,9670 - 1,9850
Supports
1,9300 - 1,8925

For more forex information, go to www.mataf.net

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