EURAUD: Potential Short Forming

FX:EURAUD   Euro / Australian Dollar
   EURAUD is facing some resistance based on the resistance area drawn on the chart. If you scroll back to Aug 2015, you will be able to see that prices has rejected this level a few times, failing to break higher. Prices are already showing signs of stalling on lower time frames. Price also seem somewhat forming a pin bar on the daily but its still too early to tell as there is still a long way to the candle bar closing. Risk on this trade will be higher, compared to other pairs as it will be a counter trend trade. Trade with care.

Will wait for daily candle to close before making decisions. Keeping a close eye on this pair.

i agree also watching and waiting possible double top i would like to see with some bearing engulfing but like you said counter trend so higher stops or key entries its good to wait UJ did the same kind of move in july stop out shorts went a little bit higher and then shorted all the way back down longs got stoped
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