EURAUD Short
Updated
EA rejected major monthly level at 1.165 last month. Now I think it is making its way down to the monthly level 1.1535. This is long-term but it helps to know the main trend or all trends of every timeframe for that matter. If you look at the daily there is an inverse HS pattern, but my bias is still short due because I like to follow the Monthly trend. I think that EA can still go up to 1.5895 before heading back down again. Once at that level Ill look for overbought on the 1h tf and divergence on the 5Min tf along with candlestick patterns to get the best entry possible. ( This is partly my strategy so I would advise you use your own entry method. ) From entry level ill set my TP at 1.583 and 1.578.
Note
Ignore the 1.585 line.
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