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