ea2-1024x389EUR/AUD H4 price moves in a strong downward trend, which broke below important support level. Currently it acts as a resistance and rate is slowly approaching it from the bottom. It will be so called retest, so we may assume, that cross-pair will rebound from the zone and heads up south. Looking for slippages will be a trend following move in a strong momentum.

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Member and editor of Finance Magnates - the biggest FX, and binary options B2B website. A graduate of the University of Economics in Krakow, active publicist since 2012. Technical analysis is always more important to him than the fundamentals – however, he does not reject the importance of macro data. As he assumes that, the simpler the better, he is a strong fan of Price Action trading strategy and Fibonacci retracements.