EURAUD has now produced "impulse-like" 5 waves up, reacting to the measured move target of the head and shoulders pattern outlined in a previous idea (linked) at 1.5980, and horizontal and trendline support in the 1.6000 area. A retracement of a corrective nature and a break of the local trendline should warrant consideration of a long position.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.