EURAUD showing multiple sell pattern.
The price are currently still ranging between the ascending channel since march but showing multiple sell pattern
- Ascending channel since march
- Head n shoulder since mid of july (right arm almost completed as the price could not break out higher)
- Small ascending channel to complete the right arm of the smaller head n shoulder since mid of sept.
The price break out lower and forming a possible smaller ascending channel correction to confirm the market direction.
Price might rebound or breakout from the low of the bigger ascending channel but there is still a good risk-reward for sell entry.
- Ascending channel since march
- Head n shoulder since mid of july (right arm almost completed as the price could not break out higher)
- Small ascending channel to complete the right arm of the smaller head n shoulder since mid of sept.
The price break out lower and forming a possible smaller ascending channel correction to confirm the market direction.
Price might rebound or breakout from the low of the bigger ascending channel but there is still a good risk-reward for sell entry.
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