EURAUD Head and Shoulders

EURAUD is at a key monthly resistance level and is yet to roll over into a downtrend which we can short. A head and shoulders pattern is present showing price making lower highs. Waiting for a break of the neckline/trendline and a retest on lower timeframes to look for a short trade. We also have a double top formation which aligns the 50% fib level. Aggressive or lower timeframe traders may use this to trade the right shoulder formation.