EURAUD: Structure & Trading Plan

OANDA:EURAUD   Euro / Australian Dollar

EURAUD is trading on a key daily/4h structure resistance .
it is a very important moment for the pair and the reaction to that will show us the future direction of the market.

I am still short biased and currently looking at a rising wedge pattern on 4H.
on a lower timeframe, the price is forming a head and shoulders formation.
bearish breakout of a neckline will confirm the violation of the wedge .

then you can short the market aggressively or on retest with
1.645 initial target
stop above the right shoulder

if the market goes above the head, my bias will switch to bullish


do you agree with my plan?
+1 Reply
good deal, I like that.
VasilyPonomarev ProjectSyndicate
@ProjectSyndicate, thank you 😊
Agree :)
@pring2751, good!
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