EURAUD Thesis

We have trapped price in a horizontal channel in a very sensitive area. Therefore, whichever side it may break towards we can see some big moves this week as there is a lot of liquidity both ways the institutions can target. I will not be looking to take any trades till price breaks out of one of the zones we have outlined and then on the retest we can look for candlestick patterns or price action patterns to confirm out entry. With a setup like this we will be able to get a nice entry with a good RR ratio with a high chance price will go in our favour.

Good luck!
- Trading whilst the market is consolidating can eat your profits away...
P.S This is a speculative setup, not investment advice.