Emerging Channel Up 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 1.7726. If the support shows to hold, the Channel Up pattern suggests a rebound back towards current levels.
A Channel Up has formed, EURAUD is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?
