Expecting a move to the downside!
Head and Shoulders break and Retest, with good 4H Close now.
Expecting a movedown 1.60000 in the next 1 or 2 weeks!
Also very good risk to reward for this setup!
Here is a technical Analysis for EUR/AUD on the 4hr. Overall on the daily and weekly chart the momentum has been towards the bulls however due to the volatility of this pip we are possible to also make gains on the bears of this market. Above the 1.62100 Dynamic Support and Resistance we have a head and shoulders formation. This is a signal that we could possibly...
Price failed to break previous swing low suggesting we will see some upside. I think we will see price retrace back to 1.64 creating a right shoulders and new lower high signally a trend change I didn't get to post this position when I entered but there is still two entry opportunities on the chart. See next post for lower time frame entry.