VasilyPonomarev
Long

EURAUD: Important Decision Ahead

OANDA:EURAUD   Euro / Australian Dollar

EURAUD is retesting a major daily structure resistance cluster.

due to a recent higher low formation, bullish violation will be highly probable.

next week wait for a daily candle close above the underlined zone.
it will signify a shift in market sentiment and initiation of a new bullish trend .

Comments

Will watch this pair this week...
thanks Vasily

+1 Reply
VasilyPonomarev ShlomoYahbes
@ShlomoYahbes, good outlook!!!
+1 Reply
I just done analysis by my own. What I've seen it's a bullish breakout from the resistance zone. we just need the confirmation candle before open a long position!
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This is my analysis. I'm bearish, *fingers crossed* lol
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I love this idea Vasily! I also looked at it, and see the same very interesting behavior. If you zoom out you see even more interesting confirmations of this idea:

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VasilyPonomarev Trading-Guru
@Trading-Guru, good analysis!
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Thanks Vasily :)
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@lmulhare, you are welcome buddy 🙏
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I'm worried about the two previous resistance tests that took place before this one. If we look at your chart historically, price has been rejecting that area a lot and don't think it will be any different now.

What do your higher time frames say?

I anticipate a triple top forming for another rejection. But will trading you can never know. In conclusion, if the resistance was to be broken, it would be as a fake breakout to stop hunt. But I will be following your idea. :-)
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I think that it might drop a little at the resistance because it is a strong resistance, but in any case it will penetrate it and move according to the scenario that you set. Thank you for participating.
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