EURAUD has been on our radar for some time and with the weekly timeframe forming a significant bearish engulfing candle off the
key highs, we could expect some downside to continue. Looking for 4hr trading opportunities off the moving averages with
targets being the daily trendline support.
In this video update, we go through different methods to short EURAUD as we expect
the current downtrend to continue. EURO is weak and will look to continue that weakness.
If the price retraces to the sell zone we will look for bearish price action to short this market.
For Scenario 1) We have a QML broken and retesting neckline, riding the bears .
Scenario 2) We have a double bottom, a falling wedge and seeing a possible iHnS. We might go back to levels of 1.639
But for now, its good that the 2 are agreeing on a buy ...
Whats you opinion on this?