The 4hr time frame is indicating a move upwards after consolidation is complete, in regards to where the market price is currently at.
If the price goes above 0.90490 then it will confirm upwards movement and signalling a buy for this current pair.
Trading tip: Always insure your RRR is a minimum 2.1, Life's a bitch.. so always sleep with one eye open.
according to the daily timeframe this trade is a downwards trend. However, as the trade entry is coming off a very abnormal S/R, there is a small chance the trade can go the opposite way!
does not fully comply with my trading plan but its a Monday so F*** it!
P.S We also got USD news at 1.45PM (UK time)..
4h shows a very clear movement off resistance therefore indicating it is time for EURAUD to go down. retracement is likely to take place a number of time but the overall movement for this pair is downwards.
keep an eye on 15M for a good entry!
The better the entry = the more pips you catch!