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mansooryousafzai

EURAUD - Bearish Trend - 1H Time Frame

Short
Euro / Australian Dollar (OANDA:EURAUD)  
mansooryousafzai  
OANDA:EURAUD   Euro / Australian Dollar
Trend Analysis Chart Patterns Technical Indicators EURAUD euraudshort
2
0
trendanalysis chartpattern indicator euraud euraudshort
Based on the chart, it appears that there is a bearish trend forming as evidenced by Lower highs (LHs) and lower lows (HLs). Further analysis using the Relative Strength Index (RSI) indicates that there is currently no divergence present. With this in mind, we recommend taking a long short with a risk/reward ratio of 1:1.

Trade Short
Sell Stop = 1.62438
Stop Loss = 1.63616
Lot Size = 0.10
Take Profit 1 = 1.61245
Take Profit 2 = 1.60067

Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
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