EURAUD
From the H4 chart above, we can see the price movement below the 21d moving average as well as the stochastic reading around the 50% mark, price has broke out from the bullish trend channel with a retest back to the trendline from which market currently consolidating around, from my view point i believe we will be seeing a retest on the AC trendline to complete the ABC elliot wave pattern before the possibility of a full retracement of price, however this week we expect to see some strong fundamentals on the EUR ZONE news which would have a strong effect on the market.
Personally am going short on EURAUD with a point of entry at the breakout of the short trendline from (A) which would be around the 1.56500 mark with an expected take profit at 1.54300 .
WHATS YOUR VIEW ON THE MARKET??
