R2R-James

structure broken.

Short
FX:EURAUD   Euro / Australian Dollar
Higher time frame were clearly on the down trend making new lower lows and lower highs, currently on the 4hr time frame you can clearly see previous structure looking left has been broken , so were now waiting for the pull back and re test. the 50% fib lines up perfectly with an area i would look to get into this market selling for the continuation of the market. We have possibly outlined our structure channel on this 4hr also. Current situation is the bulls are coming into this market to push price up, clearly shown by the most recent candle formations but dont let that put you off from the higher time frame showing more to the down side. Do not trade this currently, wait for it.

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