EURAUD - Trade within wedge until clean break either way

A few different outcomes for this with a wedge forming on 1D timeframe. Edging towards the very end for a break out - currently resting on structural support around 1.4573 area and close of bottom of trend line.

Could make a false break and head back towards the upper trend line of the wedge - if so 1.5 area will be key resistance and good place to short if PA does head upwards again.

Leaning towards bearish bias on this pair unless PA closes above 1.5 on the daily timeframe. until then - will maintain upside risk.

Kommentera:

Taking half profits and moving remainder SL to entry