EURAUD SHORT IDEAON THE WEEKLY CHART, PRICE BROKE OUT FROM THE ASCENDING WEDGE AND IS CURRENTLY DOING A PULLBACK FOR THE BIG MOVE
ON THE DAILY PRICE BROKE OUT OF THE ASCENDING WEDGE (WHICH IS THE PULL BACK ON THE WEEKLY) AND HAS GONE INTO CONSOLIDATION
i AM EXPECTING PRICE TO BREAK OUT OF THE BOX AND THEN i WILL SHORT THIS PAIR.
MY EYES ARE ON THE 1.5700 AREA.
Euraudtradingsetup
BreakageFor the previous days, the EURAUD pair has been continuously consolidating few pips above the support-now-resistance area. Due to the unwillingness of the bulls to fight on, it was hugely followed by a series of bear attacks. This of course, after another formation of inside bar, has made me point out to enter a short position for a quick trade.