EURAUD is trading within a well-defined descending channel on the 15-minute timeframe. Price recently tested the upper boundary of the channel and is now expected to continue lower towards the 1.74979 target area.
A potential breakout below the channel support may trigger further downside movement. Wait for a proper retest confirmation before entering any short position. The overall bias remains bearish until the price breaks above the channel resistance.
Risk management is essential as false breakouts are possible. Watch for price action signals near the lower boundary and target zone.
A potential breakout below the channel support may trigger further downside movement. Wait for a proper retest confirmation before entering any short position. The overall bias remains bearish until the price breaks above the channel resistance.
Risk management is essential as false breakouts are possible. Watch for price action signals near the lower boundary and target zone.
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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.
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.