Price has reached a strong level of daily support and is showing a sign of market flow reversal from bearish to bullish. A retest of broken H4 resistance is typically where buying opportunities are seen at best. HOWEVER, a failure to follow through on H4 will result in the underlying market flow which is bearish.
Price has now reached a level of H4 resistance which is also visible on the H1 timeframe. With price already in a bearish market flow at this strong level of resistance, I expect price to push lower of course after having transitioned from smaller timeframe to be in alignment with the overall market flow which is bearish.
Price broke H4 resistance to continue its Bullish market flow and is looking to turn that broken resistance into support. Long opportunities are expected with proper lower timeframe transition to the upside in order to align with the overall market flow which is bullish.
EURAUD has reached a daily resistance level and has shown market flow switch to the downside as indicated on the chart. Sell opportunities are prioritized.
