EURAUD: Technical Breakdown

2020-01-19 17:41:34

This chart appears to be forming a H&S pattern, but the bearish bias is not confirmed until the neckline has been breached. Until then I will be looking to long the Double Bottom pattern. Considering the 76% retracements there is high probability that price will rally up to complete the Butterfly.

Trendline break from ''XB'' indicates bullish momentum. A break above B confirms the butterfly. If any bullish wide range bars occurs from ''CD'' and/or at ''D'' it would be safe to target 162% XA.


Please leave a like and make sure you comment below with any idea regarding EUR/AUD

Thank you for reading

God bless and happy trading!