Looking at EurAud on the daily chart, price is exhibiting a steep bearish retracement after a strong bullish rally towards the upside. I believe that more bearish movement will follow until enough liquidity is found for buyers to drive the price towards up! For the time being, price could possibly drop towards the Non-Horizontal Support Level that is identified.
On the H4 charts, we could notice that price has just recently broken a Significant Daily Level. If price could come back and retest this level as resistance and reject away with a strong bearish H4 candle closure, we could see a continuation towards the downside. Just waiting for the retest, then a confirmation candle to prove seller sensitivity.
On the H4 charts, we could notice that price has just recently broken a Significant Daily Level. If price could come back and retest this level as resistance and reject away with a strong bearish H4 candle closure, we could see a continuation towards the downside. Just waiting for the retest, then a confirmation candle to prove seller sensitivity.
