EURAUD has a strong reason for us to wait for a short trade entry signal inside that top purple zone:
1. Its retouching the red broken trendline on the other side. 2. Its reaching FIBO 1.618 of its first uptrend wave . This position usually could be a high possibility of reversal or correction. 3. Its has been a little far away from its upper line of bollinger bands which means it needs to be amend before it can get a higher position .
This is not a trading signal but a plan waiting for trading entry signal.