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

September 3, 2020 7:59:29 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.624)
7:53
7:53
Sep. 3, 2020

-85 p
1.6240
Stop Loss
1.6155
Entry
+80 p
1.6075
Target 1
Chart & Analyst Comments
EURAUD - Downward trend will continue, Short trade by market price recommended
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
  2. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  3. MVP line is above the price and acts as a resistance level.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  5. The given Stop Losses of market participants are on the same level as the previous low, which will serve as the target for our trade.