A look at the daily chart of EURAUD. Price has failed to continue the upside bullish momentum after finding near term resistance @ 1.6230. A head and shoulder pattern seems to be forming with price currently in the process of printing the right shoulder. If resistance is respected than bears will look to push price to the downside, and a break of the neckline would signal a potential start to a bearish trend.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.