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

October 18, 2021 10:39:14 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.5600)
10:36
10:36
Oct. 18, 2021

-70 p
1.5760
Stop Loss
1.5690
Entry
+55 p
1.5635
Target 1
+90 p
1.5600
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  3. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  4. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  5. The first target is at the level of the previous bottom - 1.5635, and the second one, in case of an active price decrease, is at the level - 1.56
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