Extreme trader sentiment points to possible AUDJPY downtrend SEL

Extreme trader sentiment points to possible AUDJPY downtrend SEL for FX:AUDJPY by FXCM

Extreme trader sentiment points to possible AUDJPY downtrend SEL



75.328 – 75.634 Add to Watch List
Signal ID: 72672
Time Issued: Friday, 24 July 2020 04:00:15 GMT
Status: open
Entry: 75.328 – 75.634
Limit: N/A
Stop Loss: 76.093

The Trend Follower Strategy has just sold AUDJPY at 75.481. The system recommends entering this trade at any price between 75.328 and 75.634. The signal was issued because our Speculative Sentiment Index is extremely negative, with a value of 1.522. This suggests that the AUDJPY could be trending downwards.The 14-period Average True Range on a daily chart is 0.612, so the stop loss has been set at 76.093. This stop loss order is a trailing stop that will move down as the market moves down. There is no profit target for this strategy. We expect to be closed by the stop loss.Trend Follower is a trend trading strategy that aims to buy and hold rising currency pairs and to sell short and hold falling currency pairs. The strategy looks to buy when the Speculative Sentiment Index is below -1.5, and looks to short when it is above +1.5.

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