EURAUD SHORT
On the daily price has created a rising wedge and broke below it. On the 4hour chart we have an M formation and break of trendline, and currently price is retesting the neckline of the M formation.
A good rejection off of the neckline and trendline can indicate potential drops. the setup will fail once the market breaks back up above the trendline and goes into a range.
A good rejection off of the neckline and trendline can indicate potential drops. the setup will fail once the market breaks back up above the trendline and goes into a range.
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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.