Time To Short the EUR/AUD?
Updated
Here's the daily chart of the EUR/AUD. The trend is moving sideways, from the 1st of June 2020 till the 9th of December 2020. Then it started to fall, and rightnow it's standing on the 1.60330. If it crosses this level downside, it will fall up to the following levels 1.60000 - 1.59000 - 1.57000.
But if the trend of EUR/AUD takes reversal and starts to rise from 1.60330, then it will knock 1.61600 - 1.62400.
I have used the DMI and RSI. RSI is moving under 50, and the ADX is less than 25. Additionally, -DI is above +DI. These all show a downtrend.
But if the trend of EUR/AUD takes reversal and starts to rise from 1.60330, then it will knock 1.61600 - 1.62400.
I have used the DMI and RSI. RSI is moving under 50, and the ADX is less than 25. Additionally, -DI is above +DI. These all show a downtrend.
Trade closed: target reached
The first target reached
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