EURAUD 4HR looks a nice move coming, wait for the structure to confirm the move then take entry as per your plan.
Euruaudshort
EURAUD LONG SETUP4HREURAUD 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
EurAuD short position !!!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
EURAUD ShortWe can see a clean break of the ascending channel formation and i expect further downside for this pair.
EURAUD testing support, watch for potential bounce! 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 also bouncing off our major support and we might see a corresponding rise in price.
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