EUR/AUD - Inverted Head and Shoulders

٢٣ مارس ٢٠١٧

Following up from my previous post for EUR/AUD (chart is shown below), price has now formed a valid inverted head and shoulders pattern on the 4h chart.

I have just recently closed my long position until I see clear confirmation on market direction, as price is now sitting on a major resistance level.

Keep an eye on this setup over the next week!