EUR/AUD Short Opportunity

11 gen 2020

On the 4HR timeframe we can see that the market would have a move down followed by a retrace, if the retrace fails, we can expect the price to move down (which we see on this chart). We can expect to see a retrace made and will have to monitor how the market behaves at that level. I expect the price to have a large move down after that retrace, especially given the strength of AUD recently, and plan on shorting at that after the retrace.