Interesting scenario on EU. If you look left, you will see the price reacted many times to that key level. Do not take any trade until the level got hit and remember, you have to react and evolve with the market.
Look at this. On the daily we can see the price broke out of an uptrend and an impulse started to the downside. After that move a correction formed which is clearly visible on the H4 chart. There is a key level too and is good to wait what the price will doing around that level. My bias is to going short if the price reject the level.
Zigzag pattern is almost complete on the EURAUD H4 chart. I am going to look for long opportunity if the price is reject fibo 61.8, which is a strong support and resistance area.
