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

May 5, 2021 8:27:00 AM by Alexander Zorevyk
Forecast Details
Direction Sell
StatusClosed (1.5490)
May 5, 2021

-55 p
Stop Loss
+50 p
Target 1
+80 p
Target 2
Chart & Analyst Comments
  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. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. Price broke through the MVP line and rushed down. We consider this a sign for further EURAUD price decrease.
  5. The first target is at the level of the previous bottom - 1.549, and the second one, in case of an active price decrease, is at the level - 1.546
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