decision point for euro australian

hey traders,

euraud pair reached its decision zone:
if we look at a higher timeframe we will notice that 1.585 structure level is very significant.

Approaching it right now to scenarios are possible:

one - is the structure swap. Clear violation of current resistance that will turn to support.
So we will be looking for buying opportunities.

another - structure will be respected, and the market will go all the way down to the market low.

For confirmation, I will be looking for a breakout of a local yellow channel.
Bullish violation will signify bullish confidence, while bearish will indicate bearish sentiment.

Good luck!

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Comment:

Bullish violation

Trade closed: target reached