EURAUD H&S Sell bias
Confluences
- Price has had an impulsive move to the downside breaking through a double bottom and a psychological level of 1.6 which has previously been well respected
- Head and shoulders pattern where we have now broken through the neckline
- Previous strong bearish weekly and monthly candles so we are aware that sellers are in control on the higher timeframes
- On the weekly timeframe looks like one large head and shoulders pattern
- Price has had an impulsive move to the downside breaking through a double bottom and a psychological level of 1.6 which has previously been well respected
- Head and shoulders pattern where we have now broken through the neckline
- Previous strong bearish weekly and monthly candles so we are aware that sellers are in control on the higher timeframes
- On the weekly timeframe looks like one large head and shoulders pattern
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