EURAUD will melt to 1.6060!

EURAUD has a hard time keeping up above the 1.6200 region and is showing a slowdown in liquididty and momentum to the upside , suggesting a downside target of 1.6060 to easily be met .

Ofcourse the 1.6000 institutional region is not far away from there and could be met very shortly after we have reached the 1.6060 region.

A risk reward ratio of 1:9 is set up for this trade wich is more then decent.

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