Home » Daily Trading Signals » Head-and-Shoulders on EUR/AUD @ D1

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  1. A rather classic version of the head-and-shoulders pattern has formed on the daily chart of the EUR/AUD currency pair. I am aiming for a conservative target and set my take-profit (the green line on the chart) to the height of the shoulders only, not the entire formation. From fundamental point of view, I am quite pessimistic on the euro for the next 20-30 days (worsening of the situation with COVID-19) and there is a chance that there will be a hint of rate hikes from some RBA officials.

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