Will Euraud seek bearish momentum ?Hello ligand traders ! I hope you are doing good. Today I will talk about the possible EURAUD trade.
As you can see , EURAUD is making complex movements . But overall the trend is very bearish according to my bias . Here this market broke recent low around 1.62000 and retested the higher highs which is a classic bearish outlook .
Moreover you can see that it created double top formation in the upper side of the border . This point is 1.62669. So ligand thinks that EURAUD will soon move down to its local channel .
The target of our EURAUD is 1.60283 level which is marked in this chart . Trade carefully and stay with ligand .
