EURAUD- Sell Limit on the Liquidity Zone
Updated
Technical Analysis:
-On the Weekly and Daily timeframe shows strong bearish momentum
-There has been a breakout of the ascending triangle and looking to to enter on the retest of the liquidity zone.
-Price has been in a downtrend since 23rd March 2020.
-We should wait for a breakout and a retracement of the supply/liquidity zone to look for a short setup.
-According to the algorithm, price could drop down 0.40% in the next 20 days. The algorithm also shows that the longterm prediction of this pair could last till the 26th May 2021.
-This is a good indication to enter short on this position before we could see a potential trend change in the future.
Fundamental Analysis:
- There are are no high impact news for news which could affect either EUR or AUD for the rest of the week.
Sentiment Analysis:
- According to market sentiment, 91% of retail traders are short on this pair.
- Normally I would go against the retail traders as 90% of them lose their capital.
- The large banks are heavily short on this pair.
Lets see how this trade plans out!
Make sure to follow, like and comment your ideas for this pair!
-On the Weekly and Daily timeframe shows strong bearish momentum
-There has been a breakout of the ascending triangle and looking to to enter on the retest of the liquidity zone.
-Price has been in a downtrend since 23rd March 2020.
-We should wait for a breakout and a retracement of the supply/liquidity zone to look for a short setup.
-According to the algorithm, price could drop down 0.40% in the next 20 days. The algorithm also shows that the longterm prediction of this pair could last till the 26th May 2021.
-This is a good indication to enter short on this position before we could see a potential trend change in the future.
Fundamental Analysis:
- There are are no high impact news for news which could affect either EUR or AUD for the rest of the week.
Sentiment Analysis:
- According to market sentiment, 91% of retail traders are short on this pair.
- Normally I would go against the retail traders as 90% of them lose their capital.
- The large banks are heavily short on this pair.
Lets see how this trade plans out!
Make sure to follow, like and comment your ideas for this pair!
Order cancelled
Trade was not activated as price went the opposite way.
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