We have Double Top on 4hr. and neckline of it is @ 1.561.
If euraud manages to close 4hr candle above neckline then we will see euro rising towards 1.607 again.. but before going there euraud needs to clearly break 1.572 as well.. which is another hurdle..
I expect consolidation in between 1.561 and 1.53 for short time.. and then down move towards 1.49.
Euraud has 4hr Head & Shoulder Pattern as well.. so only break of 1.572 will give bulls relief.. otherwise doors of 1.49 are open..
If euraud manages to close 4hr candle above neckline then we will see euro rising towards 1.607 again.. but before going there euraud needs to clearly break 1.572 as well.. which is another hurdle..
I expect consolidation in between 1.561 and 1.53 for short time.. and then down move towards 1.49.
Euraud has 4hr Head & Shoulder Pattern as well.. so only break of 1.572 will give bulls relief.. otherwise doors of 1.49 are open..
Comment:
I am having short position in euraud from 1.5409 running from yesterday with sl. @ 1.572
