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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
Publish Time6/3/20 8:54 AM
Direction Sell
Status Closed (1.6165)
8:52
8:52
Jun. 3, 2020
Forecast
-90 p
1.6350
Stop Loss
1.6260
Entry
+95 p
1.6165
Target 1
+125 p
1.6135
Target 2
Related Links
How to use MT4/5 Indicators Tools

Chart & Analyst Comments

main-sell-market-trend-1

For today's forecast, we recommend a Sell Order at this recommended market price - 1.626. This idea is based on the following analysis:

  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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
  3. MVP line is above the price and acts as a resistance level.
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