- AU IS IN A BEARISH MARKET AS PRICE DROPS AFTER A RETRACEMENT, THUS FORMING A LOWER LOW WHICH INDICATES THAT THERES MOMENTUM TO THE DOWNSIDE. ASIDE FROM MARKET STRUCTURE, MY EMAs HAVE CROSSED ON THE 2HR TIMEFRAME AND I'M CURRENTLY WAITING FOR THEM TO CROSS ON THE 4H. I THINK IT MIGHT GO DOWN TO 0.70230 AS IT IS A LEVEL THAT HAS BEEN RESPECTED BY THE MARKET ON SEVERAL ACCOUNTS.