EURAUD - Downward trend will continue, Short trade by market price recommended
June 3, 2020 8:54:35 AM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.6165)
-90 p
1.6350
Stop Loss
1.6260
Entry
+95 p
1.6165
Target 1
+125 p
1.6135
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 6
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Chart & Analyst Comments
For today's forecast, we recommend a Sell Order at this recommended market price - 1.626. This idea is based on the following analysis:
- 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 last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- MVP line is above the price and acts as a resistance level.
