EURAUD - Downward trend will continue, Short trade by market price recommended
August 24, 2020 8:02:24 AM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.6515)
-75 p
1.6530
Stop Loss
1.6455
Entry
+65 p
1.6390
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The Current Ratio indicator, which is used for quick market sentiment analysis, provides Sell signal at the moment.
- The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
- The trade is aimed at the previous low breakout. The SLC indicator signals us to set our target at the level where most Stop Losses are placed - 1.639
