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EURAUD - Downward trend will continue, Short trade by market price recommended

November 3, 2020 6:17:10 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.645)
6:16
6:16
Nov. 3, 2020

-85 p
1.6635
Stop Loss
1.6550
Entry
+70 p
1.6480
Target 1
+100 p
1.6450
Target 2
Chart & Analyst Comments
EURAUD - Downward trend will continue, Short trade by market price recommended
  1. Since the CurrentRatio sentiment indicator informs us that the market crowd is buying, we should consider sticking to Sell Orders.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  4. The drop in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the downward movement.