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EURAUD - Upward trend will continue, Long trade by market price recommended

March 1, 2021 8:44:47 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Buy
StatusClosed (1.5500)
8:28
8:28
Mar. 1, 2021

+105 p
1.5670
Target 2
+70 p
1.5635
Target 1
1.5565
Entry
-65 p
1.5500
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. 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.
  2. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  3. 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.
  4. 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
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