On Friday, euraud has just rejected the 1.6500 area and managed to close bearish. This area is a very strong area of resistance shown by past data and if a Fibonacci is drawn from the high to the low of the last push we can see that the 618 fib lines up with structure. all these confluences combined provides a nice opportunity to short this pair. Like usual monitor on a lower timeframe for the best entry and further confirmation. as for now price appears on the h4 to be in an uptrend, i am waiting for this to change.
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