EUR-AUD
The price of this currency pair is hovering around the maximum of August 2021. We can see this on chart D1. On the H4 chart, we can see that the price has been moving in a short-term upward trend since January of this year. The price level is now in the area around the highs and around the median of the rising trend channel, which indicates a possible correction, or possibly even a possible reversal of the trend. Therefore, we think that the right time has come to open a sell position, when the target price is at the level of the closest support (support) and our stop loss is placed slightly above the previous high, which almost corresponds to the high of 2021.
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