EURAUD LOSS

EURAUD LOSS

21st February 2019 contacttf

The Ichimoku Cloud, also known as Ichimoku Kinko Hyo, is a versatile indicator that defines support and resistance, identifies trend direction, gauges momentum and provides trading signals. Ichimoku Kinko Hyo translates into “one look equilibrium chart”.

After cycling through all the pairs, #EURAUD was indicating divergence in the 5 min chart.

The outlook for EUR and AUD is bearish. I believed there was a strong possibility for a decline.

Factoring these points, I decided to enter, albeit late and against my system.

Trade was stopped out.

The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

After trade analysis

Price fell, possibly because of (Atlanta Fed GDP Now Q4 forecast falls to 1.4% from 1.5%)

In the forex market, think of money as a commodity, you are buying a currency hoping that its value will increase, and if you are selling you are betting that it will decrease. ... Instead the forex market is an interbank market, which means it's all connected together in a network of banks and institutions.