EURAUD: Bearish Move From Resistance
The EURAUD currency pair formed a distinct double top pattern on the 4-hour chart after testing a key horizontal resistance level.
Today's economic data release triggered a price drop, breaking below the neckline of the pattern and confirming a bearish trend continuation.
The price is likely to continue downward, possibly reaching the 1.6127 level soon.
Today's economic data release triggered a price drop, breaking below the neckline of the pattern and confirming a bearish trend continuation.
The price is likely to continue downward, possibly reaching the 1.6127 level soon.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.