RustyTrading
Short

EUR/AUD THE BIG SHORT!!

FOREXCOM:EURAUD   Euro / Australian Dollar
Looking at the chart you can see the price at the daily resistance level (1.63300) were its rejected twice from here and indicates a likely reversal.
Hopefull or stupid ill soon find out but im expecting a drop to 1.61050 if no support is found at this level expect this to plummet and retest 1.57250 area.
If you go over the the 4hr youll see again a double top were the price both times exceeded 1.63533 and rejected, this to me shows clear signs this market is heading down.
Ill be placing a sell at 1.6300 looking for a big move down to 1.61050.
Good luck

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