Based off structure the recent low wasn’t taken out and EURAUD is in an up trend so I’d keep squeezing out pips with short term buys at least to the most recent high because of the world war threats I can’t guarantee a trend continuation. Happy Trading week.
As we can all see from the chart that price respected the trendline that is now above the price and giving a double top chart pattern so to enter this short position its better to wait for the break of that lower trendline which is also the neckline of the double top pattern and the 38.2 PRZ fibanocci area,then ride it to the 0.00 critical level of the fib probably.
EURAUD we can see that it have given us a head and shoulder pattern on the H4 timeframe and moved a bit lower and its currently on a pullback to the hit the 38.2% of the fibonacci level before we go short on the pair after looking out price action and candlesticks confirmation on that level then ride it to hit our lower trendline.
