A decent setup to start out the week on EURAUD. The pair has already broken out of a Head and Shoulders pattern on the 4H, as well we have recently seen a downside channel break.
What adds further conviction to the trade, is that the AUDUSD also has an Inverted H&S at play at the same time.
Currently we see the price retesting the Neckline - a good area for a low risk attempt at the short side.
What adds further conviction to the trade, is that the AUDUSD also has an Inverted H&S at play at the same time.
Currently we see the price retesting the Neckline - a good area for a low risk attempt at the short side.