FX.co ★ Daily Video Analysis: EURAUD holding below descending trendline resistance! Drop incoming!

Today we take a look at EURAUD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups.

EURAUD holding below descending trendline resistance. A short term drop below our 1st resistance at 1.59728 towards 1st support at 1.58748 could be expected. Technical indicators are showing room for a further drop as well.