Just a simple chart to start off. I still have a berish bias on the EURAUD 1H TF and overall outlook (see my other analysis 4H TF)
As you can see price respected the 200 day EMA (White line aka MAYO) in the past and just a few hours ago, it rejected again.
Now we look at the 50 period EMA (blue line), if price closes below on the hourly, we can look for a good short to previous structure support at the 1.527xx handle. On the flipside, if price closes above the 50 period EMA, we would have to wait and see more.
Thanks, please comment and give me any critics so we can learn together and hunt the pips!
GOODLUCK!
Order cancelled
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Fast mover on this one due to EU employment data. Good lesson learned, no trade anyways as it moved too fast.