globalfxkingz
Long

EUR/AUD BUY WATCH opportunity

OANDA:EURAUD   Euro / Australian Dollar
as we can see here on the EUR/AUD chart that it has broken from an uptrending funnel to a move to the downside. now the market looks like it has just tested the previously broken support line to now make it a new resistance level . due to the nature of this kind of pattern, there is a possibility that a head and shoulder pattern is going to be formed. so we will wait to see how the market will approach the bottom support level , and with appropriate candle confirmation and structure confirmation, we will hopefully be looking to place a buy to the upside and ride it to the new resistance level to form the head and shoulder pattern.
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