EURAUD is in an intact weekly downtrend. However, the pair broke a significant daily trendline, which structure ways could tell us that we can see more correction to the upside within its short trend.
If we see a nice breakout structure well gonna buy the pair out of its consolidation pattern.
As off for right now we still wait for the pair to create a nice buy setup. If we see a good pattern we will update you.
Our analysis will give you just a sense of market direction. These are no trade calls rather than just our own opinion. Trade with care and always use a stop loss while trading.
Cheers
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We entered the market in a lower time frame and the stop loss is now already at breakeven.