inverse H and S 71% fib support zone long term swing trade
200 EMA 71%FIB MAJOR RESISTANCE ZONE BEARISH STRCUTURE
can see here is at 71% fib zone and major resistance looking to close daily as bearish engulfing seeing a good sell opportunity long term swing trade taking partials along the way great risk to reward.
waiting for retest of the broken trend line and resistance now turned support zone which lines perfectly with fib 61.8 zone. excellent risk to reward ratio as well.
Here we can see EUR AUD has been in a strong downtrend making lower highs and lower lows at bottom resistance level we can see price cannot break below it any further and make any new lows. So now descending trendline has been broken and currently on the break and retest where it lines up with our favourable fib zone. Great R:R as well.