Hello Guys,
EURAUD traded into a monthly order block, which caused a sell-off in price. Price is likely to continue this sell-off as the structure remains bearish which is understandable because the monthly order block this pair traded into is a strong one.
Right now, I expect the price to retrace into the weekly order block for me to take a short. This will be validated if I see a CHOCH in the 1Hour timeframe.
Also, as I am expecting a retracement in EURAUD, I am looking to enter a long trade on EURUSD.
Follow for more trade analysis.
See my analysis on EURUSD below.
Cheers,
David
EURAUD traded into a monthly order block, which caused a sell-off in price. Price is likely to continue this sell-off as the structure remains bearish which is understandable because the monthly order block this pair traded into is a strong one.
Right now, I expect the price to retrace into the weekly order block for me to take a short. This will be validated if I see a CHOCH in the 1Hour timeframe.
Also, as I am expecting a retracement in EURAUD, I am looking to enter a long trade on EURUSD.
Follow for more trade analysis.
See my analysis on EURUSD below.
Cheers,
David
