FX:EURAUDWeekly levels are the boss, they are key levels where we need to put attention, we can see major reversals coming from there. In this pair we see that there has been bearish pressure and it has created this triangle, it reacted to those weekly support levels now the 1.44500 is acting as resistance, we might see a bearish rejection candle in this resistance and we might see a move all the way down to the 1.41780 support and we might even see a breakout to the downside, I want to emphasize that price is consolidating in support, this is a great sign that buyers are loosing control and that the bears might take control all the way down to the 1.36500 area. We might also see the price to keep bouncing, it has already created a range we might also see it to continue for the next weeks
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Just as i was expecting to happen... a bearish rejectoin candle is forming(daily) lets hope it colses that way, and get in the trade in the next candle.
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Comments
AlexBalboa
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Just look at this masterpiece
AlexBalboa
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Dont trade in small timeframes, stop gambling and start investing, just look at this chart, i got an entry at 1.4595 short :D