Going down if not break the resistance
EURAUD is facing an extremely well formed reistance around 1.6189 area.
RISK: it's also in an extremely well formed uptrend channel and moving up quite healthily, so it may beak the resistance and move up without much hesitation.
NOTE: AUD employment data is coming out which may have some significant influence on this critical moment - it may simply accelerate either direction.
At the moment I prefer to consider a down movement most time frames particularly lower time frames RSIs are all near oversold level (sill have room so it is risky to think this way)
Price Entry: Now
SL: 1.62 because it is a risky setup, price going above 1.6195 would have already invalidated it.
TP: Fib based. AUD news may give a push.
GL.
RISK: it's also in an extremely well formed uptrend channel and moving up quite healthily, so it may beak the resistance and move up without much hesitation.
NOTE: AUD employment data is coming out which may have some significant influence on this critical moment - it may simply accelerate either direction.
At the moment I prefer to consider a down movement most time frames particularly lower time frames RSIs are all near oversold level (sill have room so it is risky to think this way)
Price Entry: Now
SL: 1.62 because it is a risky setup, price going above 1.6195 would have already invalidated it.
TP: Fib based. AUD news may give a push.
GL.
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