EURAUD 4H show to us a probable well armed pivot. Price is testing 21sma on weeky timefram (see images below) and make one double top with macd divergence. Since the price is already working below the 21sma, opened the first order on brekou and not one second entry is possible, since the prince already retracted 61.8% of Fibonacci retraction from last bear rali and appear respecting the 21sma.
One important point of the risk of this trade is: price is testing and apparently rejecting the monthly 200sma as support (see images below). So, caution. One interesting zone to do partil profit and move stop loss to breakeven is around 1.5670/50 do to the presence of support confluence: 50/100sma on weekly TF zone and also is the zone of 100 zone of Fibonacci expansion.
*Weekly chart described above.
*Monthly chart described above.
