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

February 24, 2022 6:46:37 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.5535)
6:41
6:41
Feb. 24, 2022
-100 p
1.5730
Stop Loss
1.5630
Entry
+95 p
1.5535
Target 1
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. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. MVP line is above the price and acts as a resistance level.
  5. Set Take profit at the local price minimum.
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