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jojofang0901

EURAUD Similar Sell Structure, Look for continuation down

Short
Euro / Australian Dollar (OANDA:EURAUD)  
jojofang0901 Updated   
OANDA:EURAUD   Euro / Australian Dollar
Chart Patterns Wedge Flag Parallel Channel priceaction structure pattern impulse correction
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chartpattern wedgepattern flagpattern parallelchannel priceaction structure pattern impulse correction

Hello everyone:

Similar like EURNZD forecast, we can also see some bearish price action on EURAUD.

After the previous analysis from the Head and Shoulder, price did indeed pushed down impulsively.

Naturally after the impulse phase, price will begin to correct and form correction phase.

We can see with a few swing highs and lows, and a double tops has given the price enough momentum to have the bearish reversal impulse on the lower time frames.

Now that price has commit to the downside, watch for LTFs bearish continuation correction as another confirmation to look for further downside opportunities

thank you
Comment:
HTF:
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H and S formed.
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Price hits the lows of correction and first TP.
Watch out for potential reversals

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