EURO Breaking downside patterns

FX:EURAUD   Euro / Australian Dollar
77 0 5
Euro             seems to be bouncing of that longer downside trendline . At the same time, it is breaking the correction that has been formed this past couple days and price now will continue to the downside.

Order cancelled: the Flag we were expecting didn't happen. So I didn't take any trade on this.
By the way I did take the GBPCAD trade (previous analysis).
Go check it out :)
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