EURAUD has recently pushed up passed old resistance and printed new highs for this uptrend. The bullish breakout momentum has stalled and we’ve gotten some bearish mean reversion signals.
These will mostly likely cause a short term move back to the mean, where I am looking at a bullish hot spot for buy signals.
Here we need to see if a previous resistance level will act as support, and at the same time – the mean value hold as dynamic support.
All we need is a nice buy signal here to seal the deal.