EURAUD- BREAKOUT OF SYMM.TRIANGLE. DOWNTREND CONTINUATION PLAY?
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Price has been in a downward play on the breakout of the symmetrical triangle pattern. Price looks like could retest RESISTANCE level before heading south. Watching pair closely as I look forward to SHORT scalping pair during intraday sessions till price eventually arrives at next SUPPORT level of 1.5900 - 1.5868.
Sentiment data shows a mixed reaction on EURAUD.
Sentiment data shows a mixed reaction on EURAUD.
Nota
Looking at H4 TF Price looks to be consolidating prior to continuing downtrend. AS mentioned earlier, Price eventually visited resistance. Will it revisit as it consolidates? If price breaks & closes above Resistance, then analysis is void. I still have a bearish bias on this pair.
Penafian
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