EURAUD - POSSIBLE SELL - COT REPORT - SEASONAL

EURAUD has recently rejected our strong resistance level and has gained bearish momentum. It is currently sitting under the 0.618 Fib level and trading between this daily horizontal channel. COT report shows overall strength from the AUD while EUR is overall short, it is closing both long and short orders indicating a change in direction is possible.

Seasonal Data is also favoring the sell as AUD gains strength coming into the month of October. While the EUR gains some short-term strength it is overall bearish in momentum.