EURAUD: Bearish Accumulation

EURAUD is trading in a strong bearish trend.
With a sequence of lower highs and lower lows the price keeps falling within a parallel channel.

For quite a while the price is stuck though.
on 1.56 level the price managed to set two equal lows.

To catch the next bearish wave, wait for a daily violation below the yellow zone.
It will trigger a bearish continuation.

Remember that while the price is trading above the underlined zone, it remain in accumulation stage and shorting that is very risky

Comment:

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