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EURAUD Retests New Resistance; Targets 1.5700
Last Saturday, I discussed what could be a massive bearish reversal pattern on the EURAUD weekly time frame. EURAUD has carved a long-term trend line since July 2019. Before December, the level was holding as support hence the multiple bounces from this level since its inception. However, as I mentioned last Saturday, that changed a couple of weeks ago. The December 10th close below trend line support near 1.6150 flipped the level to resistance. It also confirmed what could be a 2,400+ pip head and shoulders pattern. You can even see how the area has attracted buyers on the daily chart. As long as the EURAUD remains ... (full story)
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