EURAUD, 4hr tf, sell at weekly resistance level
As you can see price now at horizontal weekly resistance which is 1.5900 area.
We do have an impulse to the upside recently, but after an impulse, there is always a correction. Usually the correction will be in 3 sub waves ABC.
As we are already completed wave A and B. I think EURAUD might drop once again to complete wave-C.
Sell EURAUD 1.5900
Stop loss 1.5940
Take profit 1.5700 (5R)
Use only 1-2% risk
Good luck
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.