Short. My bias is to the downside. On H4 price nicely rejected the 78% fib level as well as creating a nice dojo candle indicating signs for reversal. On the 1H timeframe price at the moment is confirming that push to the downside, however I have not yet entered short, patiently waiting for a head and shoulder formation. GBPAUD and EURGBP are two nice pairs to be correlating EURAUD with. EURGBP has a potential to slightly go up which may help EURAUD to have that slight push up to create that head and shoulder formation that I am waiting for.
Comment:
SL HIT. Guys note that with the current global situation (coronavirus), market may not follow or develop normal market patterns or clear price rejection. it is important to focus on swing points with this market volatility, also ensure that partials are taken after 30-50 pips.