[EURAUD] POTENTIAL REBOUND (tactical)
Updated
Good morning traders!
The pair should have completed the first bearish leg (A) and now, it should develop a consolidation movement (B or Irregular Bx). If you are taken short position on Wave 5, take profit on these levels or move stop to breakeven. If you want try to take short position, sell the rally on Wave B (to find reversal pattern on low TF), If you want try to take long position (speculative), you need a clear strategy (stop loss).
Thank you for your support and trade with care!
Our Analysis:
![[EURAUD] PULLBACK WAITING](https://s3.tradingview.com/j/Jtu8yczW_mid.png)
The pair should have completed the first bearish leg (A) and now, it should develop a consolidation movement (B or Irregular Bx). If you are taken short position on Wave 5, take profit on these levels or move stop to breakeven. If you want try to take short position, sell the rally on Wave B (to find reversal pattern on low TF), If you want try to take long position (speculative), you need a clear strategy (stop loss).
Thank you for your support and trade with care!
Our Analysis:
Note
Note
Note
Reserve Bank of Australia's monetary policy announcement is expected... caution!Note
Manage your position or stop to breakeven.....Note
Trade closed: target reached
TARGET 1Trade closed: target reached
Note
Trend is still bearish here....
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