Description
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Hello traders:
Here on ERUAUD, price is not forming possible continuation price action, that could lead to more bearish downside move.
From the top, we can see price had a sharp bearish impulse down from previous correction.
Naturally, price will have to correct and consolidate for the next impulse phase.
WE can see the latest development has a possible correctional structure, and price is on route to breakout now.
To confirm and validate the setup, wait for continuation correction to form and complete on the lower time frame, before placing entry orders
Thank you