EURAUD - Upward trend will continue, Long trade by market price recommended
March 1, 2021 8:44:47 AM
Forecast Details
PairEURAUD
Direction
Buy
StatusClosed (1.55)
+105 p
1.5670
Target 2
+70 p
1.5635
Target 1
1.5565
Entry
-65 p
1.5500
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 2
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Chart & Analyst Comments
- According to the most brokers’ data, more than half of the traders are currently in short positions on EURAUD. As a result, we recommend considering only Long trades at this time.
- The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
- The Ratios indicator demonstrates a market shift towards sellers. Their increase while the downward movement may indicate a successfully triggered trap. Possible price upward reversal.
- The first target is at the level of the previous peak - 1.5635, and the second one, in case of an active price increase, is at the level - 1.567
