EURAUD

looks like its playing it out nicely the 123 low breakout

Possible 123 low formed??????
If this can finish above 1.2563 then hopefully the 123 low breakout

see how this broke out of the trend line and back tested it perfectly....Thats the power of trend lines when drawn properly and not from books

This tested and bounced of the trend line perfectly during the night (over 30 pips)but has come back since.
If this trend line breaks and finishes below then it could signal a more of a corrective move and may be resumption of the down trend.
This trend line is also where the inverse head and shoulders line is. The battles currently going on and the winner should push this away from the trend line .
I currently have no position in this as its done the first touch basis already.

good spot broad rock. Its an inverse head and shoulder.

Is this a big head & shoulders with a 1.3800-1.3900 target.?

dl.dropbox.com/u/43650856/EUR%20AUD%20-%206th%20March.htm