Interesting trade I am looking at for EURAUD.
We made a huge dump from the demand turned supply zone, and we have started to recover from one of the previous demand zones.
This indicates to me personally that we will see a retest and rejection at this level and then a further dump back down to the demand zone (marked).
As always be cautious trading, especially with the sheer amount of high impact news that's coming out this week!
I WILL NOT be entering this trade without some clear bearish rejection of the supply zone and a shift downwards.
We made a huge dump from the demand turned supply zone, and we have started to recover from one of the previous demand zones.
This indicates to me personally that we will see a retest and rejection at this level and then a further dump back down to the demand zone (marked).
As always be cautious trading, especially with the sheer amount of high impact news that's coming out this week!
I WILL NOT be entering this trade without some clear bearish rejection of the supply zone and a shift downwards.