EURAUD Analysis and Forecast (SELL) - Potential profit of 118 pi

Consider a short position in EURAUD with an entry point at 1.57424, a take profit level at 1.56265 for a potential profit of 118 pips, and a stop loss at 1.58361 to limit potential losses. The upper resistance level at 1.57444 suggests a potential downward movement of around 80 pips, with an additional potential downward movement of around 120 pips to the level of 1.56265.

It's important to carefully monitor the market and adjust the position accordingly. Overall, a short position in EURAUD with a potential profit of around 118 pips could be a profitable opportunity for traders.