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

June 3, 2020 8:54:35 AM by Alexander Zorevyk
Forecast Details
PairEURAUD
Direction Sell
StatusClosed (1.6165)
8:52
8:52
Jun. 3, 2020

-90 p
1.6350
Stop Loss
1.6260
Entry
+94 p
1.6165
Target 1
+124 p
1.6135
Target 2
Chart & Analyst Comments
EURAUD - Downward trend will continue, Short trade by market price recommended

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.