EURAUD - COMPLETING SHS PATTERN

EURAUD is in correction wave from the big move down.
- The correction wave appears to be rising wedge which will completed at the right shoulder of SHS bigger pattern.
- This is not the time to sell as Correction wave has folded out yet.

I will look for bearish confirmation around 1.64 - 1.6450 with the target at 1.59 neckline position.

Kommentera:

It is moving according my plan and now testing the resistance. There might be some volatility but price should be able to push through.

However, no buy at this time and pay close attention to price action at 1.64

Kommentera:

EURAUD fail test the resistance at 1.633 creating another lower high. It looks like it is about to complete the right shoulder of SHS pattern. Be ready to sell the rally.

Kommentera:

Choppy price action even after RBA minutes. No clear trend is detected yet; therefore, alow some noise while EURAUD rising wedge is still folding out. Big move is expected

Kommentera:

another attempt to push up.

Kommentera:

Very close to my idea. Open Initial position at 1.64