1. The uptrend is broken and now in the beginning of the downtrend
2. Currently, the market is in a mini uptrend
3. Market usually liquidity before the next big move in the intended direction
Price has been rallying up for a long time and hit the monthly resistance. Currently on 4H TF in a bearish trend. To me, it seems quite probable that this downtrend would continue for at least one more after having completed triangle corrective structure as shown. Also, price has breached the support and keeps staying here. Let's see what happens.
The price of EURAUD has been under the key level 1.6300 for quite some time now. Recently, the price tried to push lower but now we can see that it was a fake move to the down
to bring in more sellers into the market before going higher. Thus, i am expecting the price breaking this key level and push higher for these reasons:
1. Price tried to push lower but...
