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

July 1, 2020 4:41:39 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.62)
4:28
4:28
Jul. 1, 2020

-64 p
1.6330
Stop Loss
1.6265
Entry
+64 p
1.6200
Target 1
+100 p
1.6165
Target 2
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. The activity of "fresh" bulls while the downward movement may indicate that the market crowd still does not believe in a Bearish trend.
  4. The first target is at the level of the previous bottom - 1.62, and the second one, in case of an active price decrease, is at the level - 1.6165