EURAUD H4 setup

We have a posible setup forming these few hours on EURAUD 4 hours chart.

From May 11 we have small range move while market hesitates where to go. AC rotates around the zero line.

This breath gives us time to analyze situation and to decide what to to next.

There are two bullish divergent bars and two bearish down fractals formed during last few sessions.

AO was red below Dbars and now shows 3 green bars which signals for a moment to add to the trade.


On the other had we must be prepared for a turn down and some continuation of the previous direction (down).

On the daily chart we could see currently forming Double Bottoms backed up by strong acceleration and momentum crossing below the Zero line.


On the weekly chart we could clearly see the debate between Bulls and Bears around 61.8% level.

Bears had four unsuccessful attempt to break the support, but Bulls had pushed them out. As a result both Momentum (AO) and Acceleration (AC) have turned into Green Zone.