Hi Traders! EURAUD sell setup is forming at the moment. A detailed analysis of this bearish opportunity is as follows:
EURAUD H4 Chart:
On the H4 chart the price was moving inside a range, this range is formed by the highs and lows reaching parallel resistance and support zones. The price which was respecting these two zones has broken below the bottom of this range and is moving lower. Hence after the breakout of this range, we may now look for pullbacks to happen. Once the pullbacks completes itself, we may start looking for sells with bearish evidences.
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.Advertisement
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