EURAUD - Downward trend will continue, Short trade by market price recommended
November 3, 2020 6:17:10 AM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.645)
-85 p
1.6635
Stop Loss
1.6550
Entry
+70 p
1.6480
Target 1
+100 p
1.6450
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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Chart & Analyst Comments
- Since the CurrentRatio sentiment indicator informs us that the market crowd is buying, we should consider sticking to Sell Orders.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- 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.
