EURAUD is approaching an intersection of a mid-term channel resistance and Fibonacci resistance line (61.8%). On top of this it is showing bearish divergence on the 1H time frame and showing potential to develop supporting bearish divergence on the 4H time frame.
Upon market open Sunday evening I'll watch for this pair to break the short term trend support (dark green line) and short the pair down to the channel support just below my 100% Fib support.
R:R for the position shown: 3.68
Upon market open Sunday evening I'll watch for this pair to break the short term trend support (dark green line) and short the pair down to the channel support just below my 100% Fib support.
R:R for the position shown: 3.68
