EURAUD - Downward trend will continue, Short trade by market price recommended

April 1, 2021 8:31:22 PM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.544)
20:29
20:29
Apr. 1, 2021

-70 p
1.5530
Stop Loss
1.5460
Entry
+65 p
1.5395
Target 1
Chart & Analyst Comments
EURAUD - Downward trend will continue, Short trade by market price recommended
  1. 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.
  2. 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.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. Price broke through the MVP line and rushed down. We consider this a sign for further EURAUD price decrease.
  5. 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.