Hello Guys,
EURAUD traded into a monthly order block, which caused a sell-off in price. Price is likely to continue this sell-off as the structure remains bearish which is understandable because the monthly order block this pair traded into is a strong one.
Right now, I expect the price to retrace into the weekly order block for me to take a short. This will be validated if I see a CHOCH in the 1Hour timeframe.
Also, as I am expecting a retracement in EURAUD, I am looking to enter a long trade on EURUSD.
Follow for more trade analysis.
See my analysis on EURUSD below.
[url=]
Cheers,
David
EURAUD traded into a monthly order block, which caused a sell-off in price. Price is likely to continue this sell-off as the structure remains bearish which is understandable because the monthly order block this pair traded into is a strong one.
Right now, I expect the price to retrace into the weekly order block for me to take a short. This will be validated if I see a CHOCH in the 1Hour timeframe.
Also, as I am expecting a retracement in EURAUD, I am looking to enter a long trade on EURUSD.
Follow for more trade analysis.
See my analysis on EURUSD below.
[url=]
Cheers,
David
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.