The EURAUD pair has been rejected on the 1D MA50 (blue trend-line). In fact Monday was the first time the price hit this trend-line since February 18. The trend is heavily bearish long-term as the pattern has been a Bearish Megaphone since June 2020.
We are expecting a new Lower Low near the 2.0 Fibonacci extension (1.4051) and then a medium-term rebound towards the 0.5 Fib retracement and the top of the Megaphone.
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We are expecting a new Lower Low near the 2.0 Fibonacci extension (1.4051) and then a medium-term rebound towards the 0.5 Fib retracement and the top of the Megaphone.
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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