EURAUD: Bat in progress presenting bearish setup

  • by Amir El Araby
  • October 9, 2018, 13:39 AM
  • 1248 Views
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By examining the weekly chart of EURAUD pair, we can observe the Fibonacci rhythmic that created harmonic pattern probability.


The EURAUD pair is moving closer to its highest level in more than 2 years; however, the weakness appearing on RSI along with the harmonic bat possibility offer short opportunity.

Technical targets reside around 1.59 regions, while 1.66 should remain intact to keep the pattern valid.

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Amir El Araby

Financial advisor with 20 years’ experience in the technical analysis studies for FOREX, Commodities, and Indices. Amir El-Araby worked as a mentor for many companies and institutes, where he presented new methods for trading in the financial market. Amir is a member of the Egyptian Society of Technical Analysts (ESTA)

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