Hi Guys , Here is my analysis on EURAUD
as you can see , price still in the bearish momentum for the EURAUD ,
if you zoom out in the higher timeframe , price is still showing a strong bearish movement ,
so we don't want to look for buy position in this market ,
what we are waiting for here is, a pull back from the bearish push to the downside ,
expecting price to reject at the 61.80% fib lines up with the major resistance in those area ,
or a rising wedge chart pattern forming ,
then we take our short position , stoploss just above 78.60% fib , take profit can be in the 0% swing low or -27% fib
Give it a like or comment if you like this idea !
as you can see , price still in the bearish momentum for the EURAUD ,
if you zoom out in the higher timeframe , price is still showing a strong bearish movement ,
so we don't want to look for buy position in this market ,
what we are waiting for here is, a pull back from the bearish push to the downside ,
expecting price to reject at the 61.80% fib lines up with the major resistance in those area ,
or a rising wedge chart pattern forming ,
then we take our short position , stoploss just above 78.60% fib , take profit can be in the 0% swing low or -27% fib
Give it a like or comment if you like this idea !
