After leaving the steap bull chanel EURAUD looks like it has started to lose momentum. On the chart we see a 4H MACD divergence in combination with RSI divergence. What price may be doing is a double top and than possibly reverce. If this is true, this could also be a 2816 trade. For now I will be watching price action on the smaller time frames for further confirmation. Trade with care
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1.56 level seems to be holding a good resistance so far. If it continues to do so, I may enter below 1.55
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Looks like it's correcting again for another impulsive move down.
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Let's see how this one goes.
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Price not doing what I am looking for. If it continues to make higher highs or range I will cancel the trade.