Hi traders:
EURAUD has been in a corrective structure for quite sometimes now.
We see price moved down within this descending channel, correcting the price to a potential double bottoms on the higher time frame.
Then bullish move in the LTF, push up the price, begin to form consolidations.
Either expect this wedge/channel the LTF to breakout of the HTF descending channel, then look for continuation correction to buy.
Or
We may see price move down once more again correctively to form a LTF double bottoms before the big reversal.
Thank you
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