EURAUD currency pair on a chart 4-hour slump from 15 September. 5 consecutive candles closed below the Bollinger band with custom settings (standard deviation: 0.382; SMA 20).

Price is now approaching to local low at 1.4765 and if it manages to break you can consider taking a short position. Possible order of protection then there would be above a short-term peak. The closest target for profits but will 100% extension of the decline, which lasted from 15 September.

Setup will be canceled if the candle on the 4 hour chart closes above the lower Bollinger Bands.


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