HELLO TRADERS, THIS IS MY SHORT TRADE IDEA FOR THIS PAIR. AT THE BEGINNING OF THE WEEK PRICE OPENED AT WM2 SO THAT GIVES BULLS A TARGET OF WM4, HOWEVER THE PAIR IS TRADING IN A DESCENDING CHANNEL. RESISTANCE IS AT THE WM3 PIVOT WHICH COINCIDES WITH THE MONTHLY CENTRAL PIVOT, AND BULLS WILL HAVE TO BREAK THROUGH THIS AREA TO GET TO WM4. THE CLUSTER OF PIVOT RESISTANCE OFFERS A POSSIBLE SHORT OPPORTUNITY FOR BEARS, AND PRICE IS ALSO IN THE FIB ZONE SWEET SPOT. THE 55 EMA BEING ABOVE THE 21 EMA ALSO INDICATES THAT THE MARKET IS BEARISH. THE STOCHASTIC IS IN THE TRADE ZONE AND HEADING SOUTH, SO MAYBE BEARS TAKE PRICE DOWN.

EURAUD H4

EURAUD H4 POST TRADE

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