EURAUD: Complete Indecision 🇪🇺🇦🇺

24 Jun 2022

Very peculiar situation on EURAUD pair:
the market is stuck between 2 structures,
one - major weekly resistance,
one - key daily support.

Depending on the reaction of the price to these structures, I see 2 potential scenarios:

If the price breaks 1.528 - 1.538 resistance and closes above that on a weekly,
I will expect a bullish trend continuation to 1.558

If the price breaks 1.516 - 1.52 support and closes below that on a daily,
I will expect a bearish move at least to 1.505.

Wait for a breakout and the follow the market.

What do you expect?

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