VladimirRibakov

EURAUD Intraday Sell Idea

Short
OANDA:EURAUD   Euro / Australian Dollar
D1 - After the strong bullish move currently it looks like a correction is happening.

We have the first leg down followed by a correction.

Expecting the price to create the second leg to the downside.

H4 - After the strong bearish move currently it looks like a correction is happening in the form of a range.

Until the key resistance zone holds my view remains bearish here.

If the price breaks and holds below the bottom of this range we may then consider it as a validation for the bearish view and may expect the price to continue lower further.