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EURAUD bearish zigzag inside equidistant channel

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The EURAUD pair is in a strong downtrend. We can see that the pair is literally swimming through equidistant channel. A precise zigzag pattern inside an equidistant channel is telling us that the pair is sold on rallies. However we can also see - Inverted Head and Shoulders pattern and the price is very close to POC. 1.4725-40 is the zone where we could look for rejections. POC (61.8, E89, bullish order block) is also aligned with historical sellers. The current price is 1.4696 and we can also

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