EURAUD pair tested last week highs at 1.5095 set in September 2016. However, closure of the week took place already under this level, and on a weekly chart was created a doji candlestick formation indicating indecision.
Turning to H4 chart, we can see a technical formation of inclined flag. Most often, this formation means reversal, but we will be able to speak of such an event only after the lower limit is broken. With this scenario, the nearest target for declines will be around 1.4805. In turn, its successful breaking would open the way to support close to 1.4714.
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