EURAUD - Downward trend will continue, Short trade by market price recommended
September 3, 2020 7:59:29 AM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.624)
-85 p
1.6240
Stop Loss
1.6155
Entry
+80 p
1.6075
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 3
Buy or Sell
Chart & Analyst Comments
- The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- MVP line is above the price and acts as a resistance level.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- 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.
