Welcome back! Let me know your thoughts in the comments!
** EURAUD Analysis - Listen to video!
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Hi. So I see the market was at a climax on the 4hr at the previous high and we are still well in time for the daily consolidation to end and the initial downtrend to reassert itself. But pullbacks shouldn't show this much activity. It usually indicates that the daily pullback will fail. The weekly on the other hand was in an uptrend. The daily downtrend could merely have been a consolidation for that. Kindly let me know what you think about this. I'm new to fx
BKTradingAcademy
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@Tetofx, Hi there! Happy to help, however, I don't have anything additional to add outside of what's entailed in the video. Weekly is still in an uptrend and the daily is bearish. I have been long on this pair from the weekly and now have a short bias from the daily as I wait for entry confirmation.
The weekly on the other hand was in an uptrend. The daily downtrend could merely have been a consolidation for that.
Kindly let me know what you think about this. I'm new to fx