Beware of robber banks (RB), bad advisors.
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EURAUD Crashes Below Four-Year Support, Targets 1.4385
Over the weekend I mentioned the idea that EURAUD would likely collapse unless buyers came out in force this week. Based on today’s session thus far, it seems this idea could become a reality in the very near future. The Euro cross is currently trading at its lowest level since April 22nd and is treading water 50 pips under the four-year support level that extends from the 2012 low. Here is a look at the broader wedge pattern that extends back to the 2008 high. Because support has been respected on a daily closing basis over the years, it will take a daily close below it to confirm the setup. That makes the ... (full story)