EURAUD Coming Week
A look at the intraday 4hr chart.
Trend = Bearish
1. Trendline - angular resistance holding from 10th June
2. Moving Average = 50 MA above price
3. RSI - within the 20-50 zone , supporting short side.
Phases - Phase 1 + Phase 2 + Phase 1 and on last Friday the start of the next Phase 2.
High Probability Zone - confluence of the 50 MA, Trendline , Fibonacci 50 retracement.
Secondary Graystone Zone - identified on chart
Into next week , the bias is for shorts . A short price action setup within the above zones is of interest.
Trend = Bearish
1. Trendline - angular resistance holding from 10th June
2. Moving Average = 50 MA above price
3. RSI - within the 20-50 zone , supporting short side.
Phases - Phase 1 + Phase 2 + Phase 1 and on last Friday the start of the next Phase 2.
High Probability Zone - confluence of the 50 MA, Trendline , Fibonacci 50 retracement.
Secondary Graystone Zone - identified on chart
Into next week , the bias is for shorts . A short price action setup within the above zones is of interest.
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