The EURAUD rejects new trend highs.

The EURAUD reversal from new trend highs is pretty spectacular. First of all, this is a bearish engulfing candle. Secondly, we rejected the 161% Fibonacci extension of the last move lower in May. Third, the 78% retracement of the 2019 range was also rejected. Lastly, a horizontal level from mid 2018 was also respected. The risk for this pair is lower near term.

Blake Morrow