EURAUD - Short

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Fundamentally I am bearish on the EURO as Europe fight with coronavirus is still a tough battle even though they seem to be picking up the pace with vaccination roll outs.

AUD is looking very strong fundamentally as New Zealand and Australia are two of few countries that are recovering from the pandemic really well.

I AM NOT A FINANCIAL ADVISOR THIS IS JUST ME SHOWING MY IDEAS OF THE MARKET

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تم فتح الصفقة

will put my stop loss at entry as we survived the little upwards movement with our stop loss and then pished back down to the first support area, we should see a move pushing through this support. if not then we will break even

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تم فتح الصفقة

Moving my stop loss to 1.556 just above the extremely bearish engulfing candle stick, i doubt the green area which is now red for me meaning that its working as resistance will be broken upwards, we might see a retest of this area to potentially enter this trade again, 1.55 area could be challenging to break as we see a lot of bullish pressure from this area, however if we are in a dominant bears market we shouldnt see too much pressure from the bulls hopefully, we riding this trade until the end

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تم فتح الصفقة

i re-entered this trade again at 1.55167 as we broke 2 levels of support that are now resistance, 1.55 area is an resistance area which I also use as entry areas especially if they're broken and then re-tested, this trade has one more major support level to break through which can determine the overall movement for this trade, if the market breaks the last support at 1.54 and 1.52 then we can expect more bears coming into play