It has been months that downtrend cycle is showing on EURAUD. Now we can see from Daily chart that price has come to Monthly support zone with minor Daily support zone on top of it.
Sell once price has shown its intention to carry on going to the South by breaking the Sell Threshold line (blue dashed line) that acts as minor support. Good Stop Loss location would be above Monthly support which might act as resistance as price progresses along to the South.
Sell once price has shown its intention to carry on going to the South by breaking the Sell Threshold line (blue dashed line) that acts as minor support. Good Stop Loss location would be above Monthly support which might act as resistance as price progresses along to the South.
Comment:
Price has shown its intention. If you're late to the party, then catch the next wave all the way to the next Monthly support.