EURAUD (26th November to 30th November, 2018)
A close look at this pair’s weekly time frame reveals a well formed weekly price channel that has held grounds since January 2017 up to date. Prices have respected the boundaries of the channel. This week and the following weeks we’ll continue to watch for reversal price action signals around the upper and the lower boundaries to trade within the channel.
Summary: Unless prices break out of the channel, we’ll continue to trade along the price channel.