After FOMC yesterday, setups are forming everywhere. We got a huge short on USDJPY and EURJPY as well as a long on USDCAD . As they've already moved, there's no point in me posting a chart analysis on that.
However, EURAUD is yet to move. EURAUD has traded down into a H4 Orderblock. The orderflow is currently . I'm anticipating a reversal off this area or perhaps 30-40 pips below this area, this is my first area of entry however.
Price created a break of market structure followed by a retracement back into a 5 Minute OrderBlock.
I'm looking to trade price back to refill the imbalance in the market place where the take profit is situated.
This trade yields a risk to reward of 1:10.
Best of luck.