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EURAUD - Upward trend will continue, Long trade by market price recommended

Alex Zarevich on FXSSI Alex Zarevich Expert
main-buy-market-trend-1
Forecast Details
PairEURAUD
Publication Time9/4/24 7:34 AM
Direction Buy
Status Closed (1.6420)
7:34
7:34
Sep. 4, 2024
Forecast
+70 p
1.6555
Target 1
1.6485
Entry
-65 p
1.6420
Stop Loss
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Chart & Analyst Comments

main-buy-market-trend-1
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on EURAUD. As a result, we recommend considering only Long trades at this time.
  2. We are seeing an increase in Sell positions by market crowd, who are replenishing an already large number of "locked up" losing Sell positions.
  3. Price broke through the MVP line and rushed up. We consider this a sign for further EURAUD price increase.
  4. Set Take Profit at the local high, beyond which there is a cluster of orders.
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