Hi Traders! EURAUD range provides bearish opportunity for us. A detailed analysis of this sell setup is as follows:
EURAUD H4 Chart:
On the H4 chart the price is moving inside a range, this range is formed by the highs and lows reaching parallel resistance and support zones. The price is respecting these two strong resistance and support levels. Currently the price has reached the top of this range and is moving lower, we may now look for pullbacks to happen and then further continuation to the downside. Once the pullback completes itself we may then look for evidences of bearish pressure in order to join the bears.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.
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Yours to your success