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EUR/AUD - Euro Australian Dollar, European Session - 20/11/08

19 Nov, 2008 @ 10:03 pm ET | written by Mataf


1,9687. EUR AUD broke 1,9650 resistance. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend daily (Mataf Trend Indicator) is in a bullish configuration. The price should find a support above 1,9460 (227 pips). The uptrend should continue to gather momentum. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,9730 - 1,9890
Supports
1,9520 - 1,9360

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

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