looks a nice move coming, wait for the structure to confirm the move then take entry as per your plan.
EURAUD 4HR : EURAUD once it crosses current resistance zone after retest then GO LONG ... It will second resitance zone with Downwards Day trendline it it didn't respect then it should be Take Profit 1.. If it crossed trenline and retest then we can make another trade and then GO LONG
good looking divergence at resistance at a pulleback, since of uptrend weakness on price action for a nice 1 to RR ratio you can put the SL lower as you wish
We can see a clean break of the ascending channel formation and i expect further downside for this pair.
EURAUD is testing our first support at 1.5746 (horizontal pullback support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) which coincides with our short term ascending line. A strong bounce might occur above this level pushing price up to our major resistance at 1.5961 (horizontal overlap resistance, 76.4% Fibonacci retracement). Stochastic (34,5,3) is...