As is, EURAUD is trading below previous Buy-zone.
For successful Short trade, rejection confirmation is necessary at prices 1.56045 and 1.55832
However! A very important point to note:
Price is ALREADY INSIDE A Monthly timeframe BUY-ZONE,
ie 1.53609 | 1.56976 IS Buy-zone for Target 1.63463.
This makes 1.54173 | 1.53609 zone have Confluence of Support.
Therefore, for this SHORT-TERM Short trade to be a success:
Confirm rejection to the downside at prices 1.56045 and 1.55832
Be aware that Buyers are exceptionally heavy at 1.54173 | 1.53609 zone--- Meaning, this is a zone where Long entries can be executed using confirmations.
Note: Idea is to complement your research.
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Thank you. Happy Trading.
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