EURAUD ON 4H , AFTER THE BOUNCE FROM 1.7506Euro / Australian DollarFOREXCOM:EURAUDMH20ā ļø Disclaimer: Iām still a beginner in technical analysis. The reason why I share this chart is mainly to educate myself and learn through practice. I would be very happy to hear reviews, corrections, or advice from more professional traders here on TradingView. š Every feedback helps me improve as a trader. š EURAUD ā 4H Analysis after Bounce from 1.7506 After bouncing strongly from the 1.7506 support zone, EURAUD has been trading inside a rising channel on the 4H timeframe. Currently, the pair is testing the upper boundary of this channel, around the 1.7810 ā 1.7830 region, which also aligns with the Fibonacci 0.382 retracement of the previous bearish leg. This area represents a confluence of resistance, including: The upper channel trendline 1.7830 supply zone Short-term overbought signals on oscillators š Bearish Scenario: If price fails to break above 1.7830 ā 1.7860 and rejection candles appear, a correction move toward the mid-channel or Fibonacci 0.5 (1.7729) and 0.618 (1.7695) levels can be expected. A deeper retracement could retest the 1.7600 demand zone if bearish momentum grows. š Bullish Scenario: A confirmed breakout and 4H close above 1.7860 would invalidate the short-term bearish view and may open the door toward 1.7950 ā 1.8000 resistance levels.