rf16saun
Short

EURAUD counter trend trade set-up for next week

FX_IDC:EURAUD   Euro / Australischer Dollar
After an extensive move last week this pair appears to be a making a double top formation on H4 time frame, RSI is extremely over bought 80 plus and price has already in the fib confluence zone of this move before price broke to the rectangle , red box is the whole confluence zone to take the short opportunity in the lower time zone. If you look at the left of the RSI similar kind of set-up happened where RSI crossed 90 and price fell from there, now even RSI appears to be setting up double formation. So any bearish set-up in lower time frame will be the reason for short with good R&R.
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