Potential Short Opportunity for EURAUD

After one successful trade on EURAUD (see my previous post), I believe there is potential to re-enter the trade again. Currently both the daily time frame and 4H time frame show a stronger bearish momentum. Furthermore, the price is currently lower than the 200 EMA which points us towards a down trend. Thus, i will look for short opportunity after it breaks out from the identified support zone, before opening a short position on its pullback.

Let us see what happens, and hope we catch ourselves a winner!