EURAUD – Very strong bearish condition

Written by Raul Lopez on . Posted in Trades & Analysis.

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

EURAUD analysis

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 .
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