EURAUD - confluence all over
We have loads of Fib confluence around 1.4270 coming up which might indicate we have a good reversal zone here.
Just to quickly sum it up
50% retracement of the last major move down
1.272 extension of the impulse leg of our butterfly pattern (XA-leg)
1.618 extension of the AB leg of the butterfly pattern
and finally a 1.272 extension of the last move up
last but not least there is some structure in place as well that the pair could not break through for a full 24 hrs
Good enough for me to consider this zone as a potential reversal zone for a (temporary) move down of this pair.
Just to quickly sum it up
50% retracement of the last major move down
1.272 extension of the impulse leg of our butterfly pattern (XA-leg)
1.618 extension of the AB leg of the butterfly pattern
and finally a 1.272 extension of the last move up
last but not least there is some structure in place as well that the pair could not break through for a full 24 hrs
Good enough for me to consider this zone as a potential reversal zone for a (temporary) move down of this pair.
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► tradingview.com/u/Nico.Muselle/
Twitter: twitter.com/NicoMuselle
► tradingview.com/u/Nico.Muselle/
Twitter: twitter.com/NicoMuselle
Check out my FREE indicator scripts:
► tradingview.com/u/Nico.Muselle/
Twitter: twitter.com/NicoMuselle
► tradingview.com/u/Nico.Muselle/
Twitter: twitter.com/NicoMuselle
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