The price is the upper band of a trading channel in the Daily Chart and a powerful bearish AB=CD ( or N pattern) has formed on the upper band of the channel and it is accompanied by a Rejection bar. we will expect selling pressure As long as the market keeps holding below 4819-4859 on a closing basis we remain bearish biased on this market.
The EURAUD is in a trading range right now between1. 5168 support and resistance up near 1.5533 and if this recent bearish momentum continues we could see a break below that support and an extension of this recent move lower. However, if the market holds above this support , we could then see the market push higher again
Daily Breakout looking for pull back setup The Gold has exploded higher the last few days as it busted up above resistance near 1355$ that had been containing it recently. The market is obviously in a strong uptrend.watching for 4hr or daily chart for opportunities to long if the market rotates back down to support./value.