EURAUD: Consolidation & Complete Indecision 🇪🇺🇦🇺
📊The EURAUD is currently trading in a narrow range on a 4-hour chart. There are two potential scenarios depending on which direction the breakout occurs.
In a bullish scenario, if the price breaks and closes above the resistance level of 1.6600 on the 4-hour chart, I expect a bullish movement with a target of at least 1.6675.
In a bearish scenario, if the market breaches the support level of 1.6465 and closes below it, a bearish movement is expected with a target of 1.6356.
As always, it is best to wait for a breakout to confirm the direction before making any trading decisions. So, be patient and wait for that confirmation.
In a bullish scenario, if the price breaks and closes above the resistance level of 1.6600 on the 4-hour chart, I expect a bullish movement with a target of at least 1.6675.
In a bearish scenario, if the market breaches the support level of 1.6465 and closes below it, a bearish movement is expected with a target of 1.6356.
As always, it is best to wait for a breakout to confirm the direction before making any trading decisions. So, be patient and wait for that confirmation.
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