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

Alex Zarevich on FXSSI Alex Zarevich Expert
main-sell-market-trend-1
Forecast Details
PairEURAUD
Publication Time9/2/24 7:21 AM
Direction Sell
Status Closed (1.6385)
7:21
7:21
Sep. 2, 2024
Forecast
-60 p
1.6385
Stop Loss
1.6325
Entry
+65 p
1.6260
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  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. The decrease in the sellers volume, together with the increase in the buyers volume, confirms the need to Sell according to our trading idea.
  3. MVP line is above the price and acts as a resistance level.
  4. The risk/reward ratio allows you to set Take Profit at the same level where the SLC indicator signals that there are Stop orders - 1.626
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