EURAUD

A completed descending wedge formation with a target back to previous highs of 1.58 area and a small inverse bottoming head and shoulder that could act as a launch pattern make this eur/aud trade an attractive proposition on a risk/reward basis. The inverse head and shoulder has an individual target in the 1.54 area. Reasonable stops should be set at previous shoulder lows in the 1.43 area and above.