EURAUD Sell (Forecast) Technical Analysis:
Price on the 4h has just broken structure to the downside showing the maybe for the next few days or even weeks we could be falling pretty heavily. When you look on the 1h timeframe it looks as if EA has a lot of momentum to the upside, which it does for now but at the same time this could be an ABC corrective wave to the upside before falling once again. The purple zone has many confluences telling us that could be our zone where we fall heavy.
-4h level where price fell heavy before
-1h Fib extension
-4h 78.6% fib pullback
-Broken Trend Line retest
So there are a lot of things telling us that this pair could fall massively, but before we enter into the sell we want to first understand when it has run out of steam to the upside and then know when it is starting to shift it's momentum back to the downside.
