EURAUD - Downward trend will continue, Short trade by market price recommended
September 1, 2020 5:02:02 AM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.618)
-95 p
1.6300
Stop Loss
1.6205
Entry
+90 p
1.6115
Target 1
+115 p
1.6090
Target 2
About Author
Alexander Zorevyk
Expert
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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.
- The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
- When the price rises, a signal is formed (orange labels), which implies a downwards movement.
- MVP line is above the price and acts as a resistance level.
- The drop in price will be accompanied by triggering of the market crowd’s Stop Losses, which in turn will serve as a “fuel” for the downward movement.
