EURAUD - Downward trend will continue, Short trade by market price recommended
October 4, 2021 6:29:32 PM
Forecast Details
PairEURAUD
Direction
Sell
StatusClosed (1.589)
-60 p
1.6010
Stop Loss
1.5950
Entry
+60 p
1.5890
Target 1
+80 p
1.5870
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 4
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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.
- 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.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- The first target is at the level of the previous bottom - 1.589, and the second one, in case of an active price decrease, is at the level - 1.587
