Interesting situation on the EURAUD pair. The range of daily candle from 24.09 couldn’t be breached for next two days, so an inside bar pattern was created. Today we observe attempts to break the lower range of the pattern located on1.6457.
If the breakout will be confirmed , and MACD will change to bearish phase- it can be a reliable signal to join the bears and open a sell order.
We must take in to consideration, that level 1.6350 is a Support/Resistance level and if price will reach that value, we can expect a bullish reaction.
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