EURAUD Strong sell opportunity within the Channel Down.

Last time we made a call on the EURAUD pair (January 02, see chart below), we caught the best buy entry right at the bottom of the former Channel Down that easily hit our 1.6600 Target:


This time we are presented with a strong sell opportunity as the price just broke yesterday below the March 07 Support, making a new short-term Lower Low. This confirms the longer term bearish extension towards the Channel Down bottom for a new Lower Low. We are going for a standard (for this Channel Down Bearish Legs) -4.25% decline from the top, targeting 1.60350.


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