Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

EURAUD Analysis & Trading Plan - 6 Nov 2024 #forextrading #forexsignals #euraud #fyp #shorts

6 Nov 2024 · 1 min

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Vladimir Ribakov analyzes EUR/AUD on the 4-hour chart, identifying a bearish MACD divergence and a broken trendline. Price is rejecting the 100% Fibonacci extension and forming lower highs and lower lows, signaling a sell-the-rallies strategy.

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Here is why the EUR/AUD could be a great sell the rally opportunity. On the 4-hour chart, we can see the price bounces off the 100% Fibonacci extension while the last peak completed bearish divergence— higher highs on the chart, lower highs on the moving average of the MACD. The most recent rising trend line was broken to the downside and As it happens, the price gains the classical bearish price structure— 3 lower highs, lower lows. As long as these Fibonacci levels will hold, sell the rallies would be my trading plan. Join Home Trader Club for real-time trading opportunities, real-time trading education, and complete trading courses.