Hey Guys ,
Here's my analysis on EURAUD ,
im seeing a huge H&S Chart Pattern in 4h timeframe which is showing us a bearish momentum in the market ,
so what we are looking for is a short position in the market ,
as you can see, price has formed a HNS pattern and broken the neckline but we haven't seen any retest back to the neckline yet,
now we are waiting for more confirmation to enter the market , what i can see right here is by using the fibonacci retracement ,
if we drag swing high to swing low by using fibonacci ,
we can expect price come back to the 61.80% fib , lines up nicely with the neckline and previous support now act as a resistance ,
and also we need to watch if price can break through 1.57800 key level
Let me know what you think about my analysis ,
Give it a like or comment if you like this idea .
Here's my analysis on EURAUD ,
im seeing a huge H&S Chart Pattern in 4h timeframe which is showing us a bearish momentum in the market ,
so what we are looking for is a short position in the market ,
as you can see, price has formed a HNS pattern and broken the neckline but we haven't seen any retest back to the neckline yet,
now we are waiting for more confirmation to enter the market , what i can see right here is by using the fibonacci retracement ,
if we drag swing high to swing low by using fibonacci ,
we can expect price come back to the 61.80% fib , lines up nicely with the neckline and previous support now act as a resistance ,
and also we need to watch if price can break through 1.57800 key level
Let me know what you think about my analysis ,
Give it a like or comment if you like this idea .
