Emerging Flag pattern in its final wave was identified on the EURAUD 4 hour chart. After a strong bearish run, we find EURAUD heading towards the upper triangle line with a possible resistance at 1.7834. If the support shows to hold, the Flag pattern suggests a rebound back towards current levels.
After testing the support line numerous times, EURAUD is once again approaching this line. Can we expect a bearish trend to follow?
