EURAUD – Very strong bearish condition

The EURAUD is trading in a very strong bearish market condition because of the following reasons:

– Last Tuesday it broke through 1.3975, a very strong daily support level
– The EURAUD never traded at these levels before (it is trading at historical lows)
– In the short term charts, it is trading below every important level

EURAUD
EURAUD

The question is, in the case we find a short signal, where should we set the next LT support level? I’m just going to use a 3:1 RR ratio, there is no way of knowing where the next level in the EURAUD.

Trade Safe!

Raul Lopez
Forex Training

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .