EUR/AUD Trade Setup: Short at Daily Resistance

EUR/AUD has made an extended move higher, approaching a key resistance zone. Similar to GBP/CAD, I’m looking for a short entry on a test of daily resistance, anticipating a potential rejection.

🔹 Trade Notes:
📊 The pair has shown strong upside momentum, but price is nearing an area where sellers have previously stepped in.
⚠️ With risk sentiment stabilizing (as suggested by the VIX’s upper wick), we could see EUR underperformance vs. commodity currencies like AUD.

🔹 Trade Plan:
🔻 Pending Short Order: Waiting for price to test daily resistance before entry.
🎯 Target: A move lower toward the 1.653 - 1.648 zone.
🛑 Risk Management: Stop-loss above resistance, adjusted based on price action.

Guide for Execution:
✅ No Martingale: All new positions are the same size as the first to maintain proper risk management.
✅ Remove Untriggered Orders: If the target is hit before the pending order is triggered, the order will be removed.

Watching for confirmation before execution—will this resistance hold, or is EUR/AUD ready for another leg up? Let me know your thoughts! 👇