EURAUD - Downward trend will continue, Short trade by market price recommended
April 1, 2021 8:31:22 PM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.544)
-70 p
1.5530
Stop Loss
1.5460
Entry
+65 p
1.5395
Target 1
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in long positions on EURAUD. As a result, we recommend considering only Short trades at this time.
- We see a sharp increase in buy orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting a downward movement.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- Price broke through the MVP line and rushed down. We consider this a sign for further EURAUD price decrease.
- The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.
