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.