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

February 23, 2021 1:10:10 PM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.53)
13:08
13:08
Feb. 23, 2021

-75 p
1.5445
Stop Loss
1.5370
Entry
+70 p
1.5300
Target 1
Chart & Analyst Comments
EURAUD - Downward trend will continue, Short trade by market price recommended
  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. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
  5. The risk/reward ratio allows you to set Take Profit at the same level where the SLC indicator signals that there are Stop orders - 1.53