EUR/USD reversed its direction and fell below 1.0800, reaching 1.0775, the lowest level in a week and closed under 200-SMA. Following an initial negative reaction to NFP data, the US Dollar experienced a significant rally and is maintaining its strength towards the end of the week.
WE ARE ENTERING INTO A BEAR MARKET. STRONG SHORT ENTRY SIGNAL
We have to Stop-loss or Take-profit when the price close above the Trend Magic Indicator!
WE ARE ENTERING INTO A BEAR MARKET. STRONG SHORT ENTRY SIGNAL
- The price closed under 200-Day Simple Moving Average
- The price is below Trend Magic Indicator and shows future bearish trend signal
- IG Client Sentiment shows strong bearish signal, because 72% of retail traders have open net long positions
We have to Stop-loss or Take-profit when the price close above the Trend Magic Indicator!
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.