EURAUD Bearish Indications 1- Bearish engulfer 2- Rejection from resistance at 1.59415, which is also previous neckline support for Head & Shoulder 3- channel trendline resistance 4- 0.5 Fib level retracement for a bearish trend started from Aug, 21 4- bearish divergence
However there are few but strong Bullish Indications 1- HH & HL on 4H timeframe 2- strong bullish momentum on RSI
So, I am short biased for smaller timeframe. It may continue back bullish trend after testing 0.236 Fib level.
But I have given two trade plans for the either side, mentioned on chart. Please support with comment and like.
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.