EURAUD Trade Plan

1 בדצמ׳ 2021

EURAUD
Bearish Indications
1- Bearish engulfer
2- Rejection from resistance at 1.59415, which is also previous neckline support for Head & Shoulder
3- channel trendline resistance
4- 0.5 Fib level retracement for a bearish trend started from Aug, 21
4- bearish divergence

However there are few but strong Bullish Indications
1- HH & HL on 4H timeframe
2- strong bullish momentum on RSI

So, I am short biased for smaller timeframe. It may continue back bullish trend after testing 0.236 Fib level.

But I have given two trade plans for the either side, mentioned on chart.
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Thanks and Good luck