EURAUD - Downward trend will continue, Short trade by market price recommended
February 23, 2021 1:10:10 PM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.53)
-75 p
1.5445
Stop Loss
1.5370
Entry
+70 p
1.5300
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
- The MVP indicator shows the downtrend. We take this into account as one of the important factors in today's forecast.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- 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
